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  1. #1
    Join Date
    Sep 2004
    Posts
    160

    Default Re: Am I Still Responsible for HOA Fees if I File Bankruptcy and Short Sell My Home?

    Is there a lien from your HOA fees, or are they simply billing you? Did you declare the HOA fees as a debt you intend to discharge in your bankruptcy proceedings? If so, has your HOA disputed their dischargeability? (As LawResearcherMissy suggests, you really should discuss this with your bankruptcy lawyer.)

  2. #2
    Join Date
    Dec 2007
    Posts
    8

    Default Re: Am I Still Responsible for HOA Fees if I File Bankruptcy and Short Sell My Home?

    Quote Quoting expertlaw
    View Post
    Is there a lien from your HOA fees, or are they simply billing you? Did you declare the HOA fees as a debt you intend to discharge in your bankruptcy proceedings? If so, has your HOA disputed their dischargeability? (As LawResearcherMissy suggests, you really should discuss this with your bankruptcy lawyer.)
    Our condo is in the "waiting for approval from Countrywide" stage. We are not behind on our HOA fees yet. We have not yet filed for Bankruptcy.

    We decided we are GOING to file for BK and in turn have stopped paying our minimums on our credit cards. We really can't afford to pay out HOA fees either, so we have stopped paying them. (As of today though, we are not late on any HOA fees, but will be come the 1st of the month.) I estimate we will be 2 or 3 payments behind by the time the condo is sold. We will not start the BK until that point.

  3. #3
    Join Date
    Feb 2008
    Location
    Austin, TX
    Posts
    48

    Default Re: Am I Still Responsible for HOA Fees if I File Bankruptcy and Short Sell My Home?

    A word of caution to you about the bankruptcy, if you file while you're working on the short sale it will stop the process. When you file bk there's a stay placed on the property and the lender can't do anything with it until they can successfully petition to have the stay lifted. Once that stay is lifted they are FAR less likely to be agreeable to a short sale. I know this because I deal with it every single day. You have to decide which you want to do more, the bankruptcy or the short sale. You can't do both at the same time.

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