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WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 3620
Experience:  Experienced real estate lawyer and real estate broker.
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This is a REAL ESTATE question. I am facing foreclosure by

Customer Question

This is a REAL ESTATE question. I am facing foreclosure by my HOA. They had my home set for Auction last month but I got it delayed. I know that in order for an HOA to foreclose on a property that the past due assesments must be at least $1,000 and that they are required to provide a repayment plan. I was not provided any payment options, nor were my over due Assesments in excess of $1,000. My question is this: are legal fees, interest & delinquent fees included on this $1,000 minimum or is it strictly the quarterly assesments? I am likely to be entered into the Auction scheduled for 4 days from now. (Wondering if getting the Assesments below $1,000 will stop foreclosure while I am trying to sell my home)
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  WiseOwl58 replied 1 year ago.

It is strictly the quarterly assessments that must exceed $1,000. Do not include legal fees and costs. If they are below, you can have the auction cancelled and they cannot sell at auction.

Good luck to you. Please rate the answer 4 or 5 and close out the question. Good luck to you. I wish you all the best.

Customer: replied 1 year ago.

Are Delinquent Fees and monthly Interest included w the Assesments in that $1,000 minimum?

Expert:  WiseOwl58 replied 1 year ago.

t is strictly the quarterly assessments that must exceed $1,000. Do not include legal fees and costs. If they are below, you can have the auction cancelled and they cannot sell at auction.

Good luck to you. Please rate the answer 4 or 5 and close out the question. Good luck to you. I wish you all the best.

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