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What happens when an HOA declares bankruptcy?

| Budgets & Finance |   Board of Directors |  


Question:

I was very close to sell my condo in Florida, Unfortunately due to high delinquency rate on HOA fees the bank declined the loan request. The buyer “found out” the HOA is in bankruptcy. What happens after a HOA is declared in bankruptcy and how does that affect a sell? How can I verify that in effect the HOA is in bankruptcy and what can I do at this point? Martha


Answers (4)

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