States Should Impose Foreclosure Deadlines on Mortgage Lenders
Individual states should impose foreclosure deadlines on mortgage lenders. Forcing lenders to foreclose within specific timelines would solve several problems facing individual homeowners as well as entire neighborhoods. States must individually legislate changes to foreclosure procedures because foreclosures are governed by state law. Federal law can impose reforms, but states must implement them. The most […]
Homeowners Association Foreclosure in DC, MD & VA
A homeowners association (“HOA”) or condo board in Washington, D.C., Maryland or Virginia has super-priority status over even first mortgage holders. Homeowners association foreclosure in the DMV is subsequently quite common. If you are unable to pay your condo or coop fees, your HOA can and will foreclose against your home. Homeowners association foreclosure procedures […]
Homeowners Association Fees in Bankruptcy
Even if you file bankruptcy and surrender your home, in some cases, your homeowners association can still pursue you for unpaid dues. In Washington, D.C., Maryland and Virginia, homeowners associations have a “superpriority” for unpaid dues. Up until title to the home is actually transferred, you will still owe HOA or condo fees. So what […]