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By CondoAssociation.com • April 3, 2016

Senior citizen with fixed income can't afford assessment

I am a senior citizen living on a fixed income. Recently, the building I own a condo in has experienced broken pipes and a portion of the building, including mine, has been without central heating and air for 14 months. We have been provided with inefficient portable units. To remedy the problem, the HOA is having all the HVAC pipes replaced. Doing so is causing a special assessment of $29,000 to my unit. There is no reserve fund. I am, and have always been current on my monthly maintenance fees and my mortgage. They have also recently levied 2 separate 'special assessment', one for $1,400 and one for $2,100.

I have always been current and on time with both my mortgage and my monthly maintenance fees. However, I do not have the money to pay these new fees. I am on a low fixed income. The units, if they are selling at all are selling way below what I paid for mine. I have a mortgage plus the additional total of $32,500. What can I do or how do I get out of this with out having to live on the streets?

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.
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