IN FORECLOSURE BUT NOT IN HOA DUES(Il)

Started by ReneeD • 2 replies • 1704 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

ReneeD (Illinois)
Posts: 201

Posted:

Is this just a trend in Illinois or all over the country?

I just learned one of our homeowners (current in hoa dues) just got assessed a 'Monitoring Fee' because the lawyer alledgedly received a notice of mortgage foreclosure. Sounds fishy to me!

Bad enough with this economy!
Bad enough that PM is assessing homeowners 1st notice and 2nd notice "administrative fees" of $35 and $50. They just started doing that late spring of last year; coincidently Il passed legislation saying homeowners cannot be charged more than $25 or 10% of amount owing whichever is greater.

I'm just trying to figure out where and what contracts lawyers are going on to do this? -Renee

BonnieE (Illinois)
Posts: 338

Posted:

Hi Renee,

I have not heard of a monitoring fee as you describe. Does your HOA have a contract with the attorney? If so, check it for fees. If not, I would question the attorney the basis for charging fees to the HOs for a "service" not contracted for.

I'll be interested in other replies on this, too.
Bonnie

SusanW1 (Michigan)
Posts: 5,202

Posted:

Lawyers don't work for free and if his/her office is pouring thru the list of forclosures to see if any HOA properties turn up, then there will be a charge for this service.

I wonder why the HOA is concerned with foreclosures if the homeowner's HOA fees are up to date.

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here