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Foreclosure Vs. Money Judgment

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Owners in a condominium or homeowners association must understand that non-payment of maintenance fees will result in either foreclosure or a personal judgment against them. Maintenance fees are the lifeline of community associations and these associations would not survive without them. When an owner does not pay his/her maintenance fees, he/she is a delinquent owner. The Board will then determine at what point the delinquency is referred to an attorney’s office for collection. Genera read more

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Full post as published by New Jersey Law Blog on June 12, 2008 (boomark / email).

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