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
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