NH Supreme Court issues key condo financing ruling

Sales of condominiums in New Hampshire continue to rise. According to data published by the NH Association of Realtors, sales through September increased 6.9 percent over 2015, on top of 16 percent growth the year before. Meanwhile, average days-on-market for condos has decreased and growth of new listings is nearly flat. These metrics send a clear message: Condominiums remain a popular housing choice. Demand is high, supply is low, and buyers need to be prepared to act.   In NH Housing Finance Authority v. Pinewood Estates Condominium Association, the question was whether a foreclosing mortgagee could be held liable for the unpaid assessments incurred by a prior delinquent owner. The NHHFA had acquired, in a foreclosure sale, title to a condominium unit with substantial unpaid assessments that had been accrued by the prior owner.   Read the article…………….


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