Can I work out an agreement to settle back condo fees in installments to avoid foreclosure?
Question Details:
Fiance stopped paying condo fees and we received a marshall's letter - the amount due is $4350 including all late fees and lawyer charges. Does the lawyer have the authority to accept a payment agreement of $500 a month for December and January and full payment in February with tax return. If not, how long do I have to pay before foreclosure? What can I do to not loose our home?
Real Estate Law Answers
Good morning:
What you need to do is contact the individual who sent you the letter. the specifics as to what can be done and what agreements the creditor will agree to accept differ depending on the policies and procedures they have in place.
It is quite possible that the proposed payment plan you described will be acceptable to the creditor in this situation. But the only way to know is to contact them directly. Call whomever you are advised to contact for payment and go from there. If you are given a hard time you can also look into having an attorney handle this for you. They for a flat fee may be willing to represent you and negotiate on your behalf.
Good luck and let us know if we can be of further assistance.
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