Does an association have a mortgage?

Answer It is not common for homeowner's associations to grant mortgages. However, a quick check in the land records under the name of the association would reveal any mortgages. In some cases a HOA may ho... Read More »

Top Q&A For: Does an association have a mortgage

In Florida do past due condominium association fees have a priority as to payment over a first mortgage holder in a foreclosure situation?

Your governing documents will make this clear. The state law may limit the number of month's past due assessments can be recovered.Your association's attorney can answer your question directly.

Does Saxon Mortgage have a grace period for mortgage payments?

According to Saxon's website, the mortgage lender does have a grace period for mortgage payments. If a borrower goes past his grace period, Saxon assesses a late fee. The company offers online paym... Read More »

In case the mortgage balance is substantially higher than the market value of a Florida Condo does it even make sense for an association to file a lien for unpaid dues?

It all depends. If the governing documents for the association and state law indicate that assessments -- you call them dues -- are automatically liens against the title, and have a priority posit... Read More »

Can a condo association evict you if you still hold the mortgage?

Classically, eviction is an action taken against tenants, not owners. Read your governing documents to determine the types of behaviours you can engage in that violate the agreements you made when ... Read More »