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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: TH who wrote (95777)	7/21/2008 8:39:27 PM
From: XBrit	Read Replies (3) of 110194

<<The answer I was given was that the units are <sold> just not occupied, so someone must pay [HOA dues] regardless and thus there will be no upwards adjustments in association dues. I guess all bets are off if they are in foreclosure?>> I am also interested in the answer to this, although under California law in my case. Our HOA, of which I am the treasurer, currently has a 16% delinquency rate (one unit out of 6 <G>), and the non-paying guy seems to be headed for personal BK and foreclosure. I'm reasonably sure that the backlog has to be paid off eventually, it's a lien against the property and no willing buyer could buy it without satisfying that. We're consulting an attorney sometime soon, I will post what I find out. Any advice from others who've been through this is appreciated.

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