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In September 2021, Fendee recorded its lien against Gould for unpaid association assessments, fines, penalties, interest, and legalfees. The post Classifying Mortgages and HOA Super Liens first appeared on The MortgagePoint. The post Classifying Mortgages and HOA Super Liens appeared first on Appraisal Buzz.
Add to this rising replacement costs and legalfees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks. And in some condominium markets in Florida, home values are taking a hit as insurance premiums skyrocket.
When they talk about reducing closing costs for underserved communities, these people need title insurance more than anybody else because while $10,000 in legalfees may be doable for someone who owns a $4 million house, it is a struggle for someone who owns a $140,000 house.”.
Cons: Potential for Dual Mortgages: If your current home doesn’t sell quickly, you might end up juggling two mortgages, along with other costs like utilities, taxes, homeowners association (HOA) fees and insurance. Unexpected Expenses: Budget for possible repairs, inspections or legalfees that might arise during either transaction.
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