Q: I am giving up my condo in a short sale - how do I handle fees still owed to the HOA?
A:
Many times back owed HOA fees are paid out of the closing proceeds even in a foreclosure or short sale. For the bank, this is a better deal than having to go through a foreclosure even with the added fees included. HOA liens are separate from the mortgage holder’s lien.
An HOA does not have to honor the sale agreement but may do so to help along the sale. The HOA does not care about your money because of their lien on the property, you may have to get the cooperation of your lender or HOA, or both, in settling these fees, unless the deal is so good that you can afford to swallow the extra fees
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