How should I apparaoch a settlement with my former HOA regarding past due fees?
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How should I apparaoch a settlement with my former HOA regarding past due fees?
I was sued by my HOA and it went to court for a house that was foreclosed on. I couldn’t do much because I was about to start grad school and I needed every penny. I would want to settle or at least figure out a lump sum payment, however I’m in school full time and would like to negociate to get the amount lowered. How shoud I approach the situation?
Asked on April 11, 2012 under Real Estate Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I would call the president of the HOA that sued you and ask for a settlement offer in writing to you. When received, you counter the amount with a suggested monthly installment that you can afford to make over a time period on the agreed amount that would be accepted in exchange for a full release against you.
After you reach an agreement in principle, have a written agreement drawn up where you and a representative of the HOA sign it and you make the payments per the settlement. When paid in full, any judgment would receive a full satisfaction. If no judgment but a lawsuit is pending, the lawsuit would be dismissed when the settlement agreement is signed by all. Keep a copy of the written settlement agreement for future reference and need.
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