How To Avoid HOA Dues and Other Liability After Surrendering House
A homeowner who their homes to their mortgage company face costs and liability other than mortgage payments and possible deficiency judgments. In addition to mortgage payments the homeowner is liable for homeowner association dues and assessments that come due after the homeowner stops paying the mortgage but before the mortgage lender completes the foreclosure process. A homeowner who surrenders their home to their mortgage company face costs and liability other than mortgage payments and possible deficiency judgments. In addition to mortgage payments the homeowner is liable for homeowner association dues and assessments that come due after the homeowner stops paying the mortgage but before the mortgage lender completes the foreclosure process.
The homeowner is also personally liable for anyone who may be injured on the property until the bank completes the foreclosure process. Because it can take over a year for a mortgage lender to foreclose a homeowner who wants to abandon a property may accrue HOA for a long time.
About the Author
Jon Alper is an expert in asset protection planning for individuals and small businesses.

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