bank owned property fee obligation

Started by PeterT4 • 1 replies • 1481 views

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PeterT4 (New Hampshire)
Posts: 3

Posted:

Has the law been changed in Florida as to the obligation to pay the HOA fees by the bank, or is it still limited to a percentage of the mortgage?

CarolF (Florida)
Posts: 435

Posted:

If the lending financial institution takes title through foreclosure and the HOA is owed back assessments, the HOA is entitled to claim up to 1 years assessments or 1% of the mortgage which ever is less.

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