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You Should Pay Your Condo Dues When in Foreclosure

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Transcript:

If you’re in foreclosure, make sure you pay your homeowner’s association or your condo association. Keep those dues current. They’re usually a lot less expensive to carry than the mortgage and there’s no defense to not paying your condo association fees. Your neighbors are the ones who are gonna have to pick up the tab if you don’t pay that so you’ll get dirty look around the complex if you let those slip and at the end of the day the condo association forecloses on you they’ll get you a lot faster than the bank ever could. They could take your rent if you’re renting the place, and you’re delinquent. They could lock you out of the common areas, lock you out of the elevators, lock you out of the pool. You want to be a good neighbor and fight with the bank because that’s where you can really make the most leverage for your living.

And it’s important that you protect your house as long as you can.

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