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The Investor’s Guide to a Single-Family Rental Emergency Fund
As real estate investors, your emergency funds are a critical line of defense against unexpected costs. It prevents you from dipping into your budget to handle them. But what should you really use an emergency fund […]
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Foreclosures
HomeForumsForeclosuresWhat happens to my credit if I do not pay condo fees?
Account Closed's profile image
Account Closed's profile image
Account Closed
  • from New York, New York
  • Member since Mar 10, 2012
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • from New York, New York
  • Member since Mar 10, 2012
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Account Closed
  • New York, NY
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Foreclosures

What happens to my credit if I do not pay condo fees?

Account Closed
  • New York, NY
Posted Apr 2 2012, 17:39

What happens if I buy a condo in a LLC and fail to pay the condo association fees? I know I risk losing the property to the condo through foreclosure, but what would happen to my personal assets and credit if I failed to pay the condo fees and lost the property? Could I be hurt at all or is my only risk the LLC and its assets?

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