So, we are 4 months late paying our HOA fees ($400/month) and we just got notice today from an outside collections agency that if we don't pay the outstanding balance plus fees (total of $2,429.41) by January 8, that they will be placing a lien on the property. We intend to surrender the property and in fact have had it on the market for a short sale for the past 4 months (no takers). It sits empty and the sooner we can wash our hands of it, the better. We are filing chapter 13 in February.
Just wondering if anyone has any advice. We are thinking that offering the bank a deed in lieu of foreclosure may be a good option (there are 2 mortgages on the property)? Should we do this BEFORE January 8th? Will having a lien on the property change the way the banks foreclose?
We have 2 empty properties we are surrendering. So over having to deal with them...
Thanks for any and all advice!
Just wondering if anyone has any advice. We are thinking that offering the bank a deed in lieu of foreclosure may be a good option (there are 2 mortgages on the property)? Should we do this BEFORE January 8th? Will having a lien on the property change the way the banks foreclose?
We have 2 empty properties we are surrendering. So over having to deal with them...
Thanks for any and all advice!
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