When do HOA assessments become your responsibility? (IL)

A recent Illinois Appellate Court decision has brought to the forefront the ongoing dispute between foreclosure sale purchasers—usually mortgagees—and homeowners associations (HOAs) regarding the extent to which purchasers are responsible for HOA assessments. In a potentially significant ruling, the Appellate Court held that an Illinois foreclosure purchaser’s failure to pay assessments that come due after the foreclosure sale could result in liability for all previously unpaid assessments, including those that accrued prior to the sale.    Read more………

Related Articles

Condo Owners Fear X-Ray Would Show Mushy Bones

But the denizens of Seahaus, a sleek coastal condo and townhome development in Bird Rock, say this is more than

HOA boards are wild card in litigation game, author says

Forgive Evan McKenzie for feeling a sense of deja vu. He has seen homeowners association scandals such as the one

Latest Salvo in the Ongoing Nevada HOA Dispute

The Nevada Supreme Court recently sent shockwaves through the mortgage lending industry when it issued its opinion in SFR Investments