---
title: Has anyone worked with a mortgage company to reduce condo debt?
description: Has anyone from a condo association board worked with a mortgage company regarding delinquent owners?
---

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# Has anyone worked with a mortgage company to reduce condo debt?

| [Budgets & Finance](https://www.condoassociation.com/blog/topic/budgets-finance) |   [Fees, Foreclosures, Delinquencies & Collections](https://www.condoassociation.com/blog/topic/fees-foreclosures-delinquencies-collections) |  

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## What do you think? Question:

 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](https://www.condoassociation.com/blog/tabid/19257/Default.aspx?Tag=Boards) will send letters to mortgage companies that are doing business with [delinquent owners](https://www.condoassociation.com/blog/tabid/19257/Default.aspx?Tag=Deliquencies). I have heard if we advise the mortgage company that their customer is in severe debt to the [condo association](https://www.condoassociation.com/CondoAssociation/tabid/83434/Default.aspx) 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 ](https://www.condoassociation.com/condo-association-loans/tabid/81563/Default.aspx)

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## What do you think? Answers (4)

#### What are your thoughts on this topic?

***Comments and postings are not legal advice**, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other. *  
  

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### [Delinquent HOA owner owes $30K](https://www.condoassociation.com/blog/delinquent-hoa-owner-owes-30k)

### [Sinking condo building leaves damage in unit. Does insurance cover it?](https://www.condoassociation.com/blog/tabid/19257/bid/40437/Sinking-condo-building-leaves-damage-in-unit-Does-insurance-cover-it.aspx)

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