How can a condo assoc have unpaid assessments show up in owners credit report?

Answer Your assessments cover your share of the expenses that the association pays to operate and preserve the property that you own. If you enjoy the amenities without paying for them, essentially you're... Read More »

Top Q&A For: How can a condo assoc have unpaid assessments s...

Can condo assoc located in Illinois place in unit owners credit report unpaid assessments?

If you owe assessments that are unpaid, you are in violation of the financial agreement you made with the association. The association is required to pursue you to collect this debt. You can read y... Read More »

Can a lien placed by condo assoc on property that is paid for show on credit report?

Yes.A lien is a matter of public record and the credit bureaus will pick it up and add it to your record.

A lien for unpaid assessments has been placed on your unit by the condo association - can they foreclose on your condo owned outright?

You can find the answer you want in your governing documents.Usually, regardless of the ownership status -- outright ownership or mortgaged -- unpaid condominium assessments represent an automatic ... Read More »

How do you form condo owners assoc?

You hire an association-savvy attorney in your state who tailors the state's condominium law -- if there is one -- to fit you, the developer's, business objectives. The original association documen... Read More »