Association fees for raw land
My association fees have doubled and they are almost as much as the value of the lot. The lot is in a resort. If i stop paying them, what can they do to me beyond repossession, which i do not care if they do? Can they hurt my credit rating? Can they put a lein agianst any other property that i own? I have it up for sale, so the above questions may be mute but i am still curious about their power.
Asked on 12/02/08, 11:03 am
1 Answer from Attorneys
Cheryl Rivera Smith
The Smith Law Firm
Re: Association fees for raw land
If you allow foreclosure and the HOA suffers a loss, they can seek a deficiency judgment against you. Also, the credit agencies may pick up a foreclosure on your record. I would sell it on Craigs List or Ebay. Someone will buy it.
Answered on 12/02/08, 11:27 am
