HOA - Accrued fees included/discharged in advance

[Widdle]

HOA's coming after you for accrued fees when house/condo was included in BK----

Since this is coming up so much, I wanted to find out the what if's and why not's.

Why not include...let's say 2 years worth, of accrued HOA fees in our Bankruptcy just to be on the safe side if the house was included in the BK?

Would it work to hold the HOA's at bay until the retitle?

[StartingOver08]

You can not include future debt in your BK estate. It is a snap shot of your financials ON the filing date. The look back for income is 6 full months prior to the filing date. The debt is as of the filing date.

Debt that accrues after the filing date is post petition debt that is yours to pay. If you are surrendering the property you would not pay your mortgage, taxes etc. The HOA can, in some states, come after you personally for HOA fees incurred after filing. This is something you will want to discuss with your BK attorney.

[justbroke]

To add on to what StartingOver wrote, which is correct, some States under non-bankruptcy law offer protection! For example, Florida amended their Statutes such that HOA fees for the first 12 months (or 1% whichever is less) is the responsibility of the lender! Other than that, you are responsible for post-petition HOA fees, dues and assessments!