Usually, there is no limit.
Monthly assessments pay for the operation of the community's real estate. Those bills have been paid. Owners who paid their assessments contributed to paying your debt.
Unpaid assessments mean that residents of that unit 'live on the backs of their neighbors' by asking their neighbors to pay for landscaping, insurance, property management and perhaps utilities.
The contract and closing process can be intimidating for any first time buyer but it is greatly rewarding. Be sure to find out the condo dues and fees and when they are due.
Not all mortgage companies seek a judgment after they foreclose (often called a deficiency action). They are less likely to do so if they believe you have no assets to go after, since it costs money to file the action and takes a long time to collect. Often, though, mortgage companies sell off the ability to seek a judgment to collection firms that specialize in deficiency actions, and the collection firm and the mortgage company split whatever is collected from the borrower. Your best bet would be to enter into a "Deed In Lieu of Foreclosure" with the mortgage company, and ask them to specifically guaranty that they will not seek to come after you for any additional money. In a deed in lieu of foreclosure, you deed the property back to the bank, and vacate the premises voluntarily. You may not have this as an option in all states, or if you have any junior mortgages or other judgments that are affecting title to the condo. If you are delinquent in your condo fees, it may also make your mortgage company reluctant to enter into a Deed In Lieu, since they would have to pay any back condo dues (this is as opposed to when a bank acquires the condo through foreclosure, where they are not always obligated to pay all delinquent condo dues).
what is the time limit for bcbs to come back and ask for overpayments made to providers
Condo allocated for logging is recover unpaid assessments. This is in time builds up interest.
Yes.
There is no standard. Read your governing documents to determine how far that association can reach into history for unpaid assessments. Your state law may also limit the reach. At the time of sale, all past-due assessments can be collected -- if the board has positioned its claim appropriately -- so that a new owner is not liable for unpaid assessments by a previous owner.
when you feel comfortable to go back out there. there is no specific time limit.
Credit rating is a reflection of how well an individual pays back their dues. If an individual has taken out loans and failed to pay them back on time, in full, their credit rating will reflect it.
Review your governing documents to determine when late fees are charged. When you pay your assessments on time, there is no late fee; when you pay your assessments late, you pay a late fee. Late fees incurred for paying your assessments late are debts that you owe. You may be able to negotiate with your board to reduce the amount of late fees you incurred, if you have special situations. However, the decision of the board is final.
There is no time limit on a filibuster.
Probably, yes. Read your governing documents to understand the responsibility for collecting the assessments that you owe -- and your responsibility to pay them -- and the steps that the HOA can take to settle your debt. Stepping into your revenue stream is one way of collecting your assessments. This strategy may cost you extra fees, however, since there will be administrative expenses associated with enforcing the guidelines you agreed to when you purchased your unit. It will be less expensive for you to simply pay your assessments on time and in full. Thanks- the condo dues have gone so far up that I cannot afford them (250%). I put 70k down on the condo and I can't even sell it for what I still owe ( welcome to Florida). I used to own a business and it has not made it through the recession…. Thanks for you input- I will spend a few bucks to get my attorney to look at it. It is about 4,000. They are keeping for two quarters….
A local realtor can answer your question.