My house is about to go into foreclosure and I need help.?
Question:
talk to your mortgage lender and see if they are willing to re-fi to pay it off; otherwise, you need to sit down with the owners association and make payment arrangements. Might also check with a local atty; in some states a homeowner's association CAN'T forclose in front of a mortgage; but those are few. The lien is pretty much standard; but it doesn't mean there is a foreclosure to follow.
Just a thought...how about paying your assoc. fees.
You could Refi With your current mortgage company or you could sell your house to someone who has a different last name and they do a land contract with you, so you stay there. Or you can burn your assoc. place down and hope all records are in there
Why did you not pay your association fees? That was simply foolish of you, as you now know. Unless you satisfy what you owe (pay the association the ENTIRE amount you owe them plus penalties), your house will indeed have a lien placed upon it) and there will be nothing you can do at that point. I don't know why you are whining about it here, as what you should be doing is getting the money together and paying what you owe. If you are unable to do that, then you will have to suffer a lien and perhaps eventually a foreclosure, because my guess is that your mortgage payments to your lender are also in arrears and that would prohibit you refianncing as so many here suggest. People who are NOT paying their debts on time are usually in a financial hole and so suggesting to them that they refinance to get out of that hole is virtually insane! Sounds like you don't quite understand home ownership, or at least association fees. And please, the guy above could be a scam artist. I am not saying he is, but the idea he is going to help you - huh? Help you do what? You OWE the money and unless he is going to pay your association fees for you free and clear (and ask nothing in return), then I wouldn't contact him. You need to contact the association you are in and work with THEM, not the guy above. He is suggesting selling your home immediately, and remember, your MORTGAGE and ASSOCIATION FEES are two DISTINCTLY different things! And posters who tell you to burn down your association (there isn't an actual association building, it's an entity) are just plan crazy! Get going and FIX THIS PROBLEM and quit wasting time here!
if
(a) you are current with your mortgage payments and
(b) you have equity built up in your house and
(c) you have enough income to make increased monthly payments
then
You should simply and quickly get a home equity loan for the amount you owe to the Home Association and pay them off and make sure that they remove the lien on the house. Then try to pay off the home equity loan as quickly as possible.
Do not refinance your entire home unless you seriously work out the economics and it is to your benefit. Complete refinancing simply puts more of your money in banks and mortgage brokers' pockets.
Definitely need to weigh the pro's and con's of the situation. To help you out in this situation you can do one of two things.
A) refinance completely; that way you can not only pay off the HOA fees but you can take money out to make repairs or simply create a savings account for times you have a great need for cash.
OR
B) Home Equity Loan; Just to pay off the HOA fees and other default fees you owe
Either way you will get out of trouble. Email me if you have any questions.
sorry to hear of your situation. Have you contacted your bank that you have the mortgage from and ask about any forbearance or modification of the loan they can do?
I would definately call them right away and see what kind of arrangements they can make. I do see something on TV advertised all the time called 1800-house911
I don't know anything about it, but if your bank can't help, maybe you can call them.
Good luck
why not pay your assoc? i'm shocked an assoc could foreclose on your house. have they filed the notice w. the courthouse?
You have a few options to prevent the foreclosure, but you'll have to come up with some way to pay back the lien on the property. The HOA is planning to sell the home at sheriff sale so that the lien is paid off.
You can try putting together a repayment plan with the HOA to slowly pay back the amount your behind. That might not be a bad idea, if your income can handle paying extra. You could also try negotiating with them for a lower payoff amount, if possible.
If a repayment plan doesn't work out, you can try to refinance. If you've been paying your regular mortgage payment, and are have a decent payment history, then a bank may be willing to refinance your loan and pay off the HOA lien, too. That would get them all paid back, and you'd just make the new mortgage payments.
Otherwise, you can try selling the home to pay the lien, or filing bankruptcy to prevent the foreclosure, but, either way, the HOA will want their money.
Good luck.
ForeclosureFish
http://www.foreclosurefish.com/...
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