Hi, I have recently begun volunteering for my Condo Board. We have terrible
problems with delinquency at my community. We have owners in the many thousands
of dollars in debt and it has been going on for years. I have heard that many
condo boards will send letters to mortgage companies that are doing business
with delinquent owners. I have heard if we advise the mortgage company that
their customer is in severe debt to the condo association and that it has been
going on for years, that the mortgage company may take this information into
account if the loan is a boarderline foreclosure... Do you know anything about
this practice? Do you know of any websites that have example letters? Thanks
Learn about HOA Loans
