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  1. #1
    Join Date
    Apr 2015
    Posts
    1

    Default Can't Sell Vacant Lot and No Longer Wish to Keep Property

    My question involves a mortgage in the state of: Texas
    We have a vacant lake lot in a golf course commuinty that we no longer will be able to use since we are moving. The lot has no mortgage, only taxes, HOA, and monthly dues. We currently have it listed for sale, but the company puts alot of conditions on advertising owner sales. What are the consequences of not paying the fees on this property?
    How would that affect our home and credit?
    thx

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Can't Sell Vacant Lot and No Longer Wish to Keep Property

    If you fail to pay your HOA fees, the HOA may impose a lien and could potentially foreclose.

    If you fail to pay your taxes, eventually the property will be the subject of a tax sale.

    Foreclosure will have a massive, negative impact on your credit record.

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