I need ideas on handling a collector on HOA fees that I cannot afford!Submitted by LB2 on Sun, 10/03/2010 - 13:19
I have a condo in St. George Utah. I owe 30 to 40K more then this condo is worth. I pay my mortgage on this property and have not missed a payment, or been late. I cannot afford the outrageous home owners fees at $215 per month. I will not sacrifice feeding my family and miss paying for the home I live in in Idaho.
I am working very hard at getting out of debt. Within 1 year I will be out of debt on everything except for mortgage debt. Now I have a collection agency demanding payment of $5148.44 for HOA fees on a condo that I don't live in and have not been able to rent out for a year.
They have already placed a lien on the property, making it impossible for me to restructure the loan or sell.
I cannot afford lawyers to help me with this situation, as their fees would be as much or more then the HOA fees.
I know I never should have purchased this so called "investment". I did it when I was 26 years old, 5 years ago. Just 2 years later, I never would have done something like that, knowing what I know now. So please don't preach to me. I need helpful information, not a lesson in principles that I was not learned in 5 years ago.
Thank you in advance to those with any helpful info.