Condo Assn Lien - How Important Is It?
I know someone who has a condo with an FHA loan on it.
She has not paid he condo dues for a year and they have filed a Notice of Default. She checked with the FHA and they told her that the condo association could not sell her property.
I assume they mean that the lien does not have an associted trust deed - and thus to sell the property one would have to get a judicil judgement.
In the men time I see that they are loading her with fees - perhaps from processing the Notice of Default.
Does anyone know how this works.
Do they just wait till she sells some day and then take theirs? Or can they force a sale now? somehow.
I don't know if they can force a sale, but I do know they love to feel the power of adding attorney fees to the lien. Act promptly to curb this problem.
Condo lien law is not same in every state and you need to find yours, read it and study it, until YOU know what it says.
And what their authority is & how they might legally enforce it.