Getting banks to pay HOA dues for REO properties

Started by ChrisW4 • 2 replies • 1295 views

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ChrisW4 (Georgia)
Posts: 16

Posted:

Hi,

Does anyone have any experience or recommendations contacting the REO departments of large banks (Countrywide in our case) in order to collect HOA dues for REO properties? I've been navigating the phone navigation systems, and speaking with several obviously clueless individuals, attempting to speak to, or get a department name or mailing address, in order to notify them of dues payable on a unit that Countrywide recently foreclosed on. Any suggestions (or specific experience with Countrywide) would be very helpful. Thanks!

KirkW1 (Texas)
Posts: 1,665

Posted:

You hire a lawyer and file a lien. This should get their attention. But if that fails after the requisite time you file foreclosure. That will get their attention.

Understand that what was owed goes to $0 when the foreclosure occurs. But the bank is not immune from dues (and liens). It is highly doubtful that they would actually fail to pay should you file the paperwork. But even if they did, you would fair well since it would represent an excellent chance to get property free and clear.

EllenS1 (Florida)
Posts: 1,148

Posted:

Go to www.lender/offender to see if you have options. I'm not sure if it is com or org.

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