Need Help Collecting Delinquent HOA Fees?
Law Office of Tracy Ettinghoff can help your association improve HOA collections while at the same time eliminating your legal collections expense.
Our office handles the collection of Assessments for Homeowner Associations. The Association may foreclose on a unit non judicially, and this foreclosure is similar to the foreclosure of a deed of trust. The problem with this kind of foreclosure in today’s market is that there are very few people who want to purchase condominiums at a foreclosure sale of assessment liens. This is because the property is still subject to the existing deed of trust or other financing and subject to delinquent taxes. In addition, many properties these days simply have no equity. However, the foreclosure process many times will encourage payment by the homeowner.
We foreclose on the property if there is sufficient equity. However, we can also seek a money judgment against the homeowners and this judgment can be enforced in a number of ways directly against the homeowner. (i.e. garnishing wages, levying on bank accounts, etc.) Although some homeowners may walk away from their units, most are not happy about having a judgment entered against them. Although a personal judgment can be eliminated by a bankruptcy, the homeowner will remain liable for assessments that accrue after they file bankruptcy if the homeowner continues to reside in or rent out the condominium unit.
30011 Ivy Glenn, Suite 121
Laguna Niguel, California 92677
Telephone: (949) 363.5573
Fax: (949) 363.1306