HOA DUES HUD Lien

Started by BryanT • 3 replies • 1289 views

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BryanT (Tennessee)
Posts: 1

Posted:

Hello,

I have just a quick legal question. Our assocation has filed a lien on a property in our complex. However the codo is in HUD forclosere.
It is now on the market! We have told our lawyer and he said that there is nothing you can do to get your money now that is is HUD ownership.
Can anyone tell me how to aproach this. I have only one week before the biding ends.

Thank You

Bryan

MaryA1 (Arizona)
Posts: 7,043

Posted:

Bryan,

Certain circumstances will make it impossible for the assn to recover delinquent assessments -- this may be one of them! All the BOD can do is budget for "bad debts" and write off those assessments that become uncollectible. You can't squeeze blood from a turnip!

KirkW1 (Texas)
Posts: 1,665

Posted:

The best thing to do is to sit back and let things happen. There is some chance that HUD will leave the lien intact. But if they don't, there is nothing to do but write off the debt and hope for better days.

DonnaS (Tennessee)
Posts: 5,671

Posted:

Bryan,
After I looked into HUD properties with leins on them, your association will be very lucky to see a dime from any sale. After they take the amount owed and pay all of the legal costs, I doubt that there will be any left. But you already have a lawyer on this so hope that he is earning his fees by doing what he can for the Association.

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