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What happens to condo fee?

Friend has stage 4 cancer and home mortgage is $60k with condo fee more than half the monthly mortgage.  Home requires work all of which is not affordable on a retirement pension.  Plan is to walk away but not sure the laws on delinquent condo fees.  Any insight for Maryland?
  • July 28 2014 - Hyattsville
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Answers (2)

Approach the association, and try to get a suspension of obligation. Get it in writing. 

Delinquent fees can be prosecuted, because they are considered a compulsory obligation for as long as the title is in the owner's name. Some will prosecute people and have a robust collection apparatus, some will not. Most will at least sell off the bad debt to collection agencies, which is hardly a positive thing given your friend's situation. In some rare instances, if you are in arrears and they don't sell the debt, they will just suspend privileges like pool use, parking spots, etc. That's the best case though :(

In addition, many times during financial hardships (like the above), a bank will suspend the mortgage for a certain amount of time. I would pursue both of those options on an immediate basis before they fall behind.
  • August 05 2014
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Profile picture for eric mc
Why not sell the condo?  Wouldn't some money be better than no money?
  • August 01 2014
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