What happens if I fall behind on my condo fees?

If you fall behind on your condo fees in North Carolina, the condominium association (“HOA”) can take legal action against you. The HOA can place a lien on the property, which will make it difficult to sell the property until the lien is paid off. The HOA also has the right to initiate a foreclosure action against the delinquent owner. This means that the HOA can take steps to legally take ownership of the property if the delinquent owner fails to pay the overdue fees. In most cases, these fees must be paid in full before the property is foreclosed upon. The HOA can also charge late fees and interest on the unpaid fees. Additionally, the HOA can charge additional fees for the costs of sending reminder notices, attorneys’ fees, and court costs if the legal action needed to collect the unpaid fees. It is important to note that the HOA cannot seize or sell your personal property to collect overdue fees. However, if the HOA has to go to court to collect the unpaid fees, a judgment may be entered against you, which could affect your credit. It is best to contact the HOA as soon as you realize you are falling behind on your condo fees. The HOA may be willing to work out a payment plan that would allow you to catch up on your payments without legal action being taken.

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What happens if I fall behind on my condo fees?

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