Q: Need Assistance Negotiating Repayment Terms for Condo Fees
I am seeking legal assistance to negotiate repayment terms for back condo fees on a property I own in PG county, Maryland. Due to confusion caused by the condo board's abrupt removal of the property manager, I did not know who to pay, which led to arrears. While I am willing to establish a payment plan for the outstanding balance, the condo association's attorney insists on an unaffordable lump-sum payment within a short timeframe. Additionally, they are not allowing me to resume monthly payments while negotiating the arrears.
A: Paying a lawyer to negotiate will cost you money as well. Have you looked at other options, like borrowing the money to pay the back fees, and then just paying the loan payments to whomever you borrowed the money from? Would a bank or your credit union qualify you for a personal loan? An equity line on your condo? Have you looked into a refi of your condo mortgage, or if paid off, a new mortgage for enough to get the arrears paid? Friends and family? Otherwise, they may simply go to court for a judment and it will act as a lien against your property.
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