Real-estate-related debt troubles not limited to just mortgages
Troubles with real-estate-related debts can lead to a person facing some major financial troubles, including the possibility of foreclosure. Thus, a person can have some pretty big concerns when they are experiencing struggles with a real-estate-related debt. Will I lose my home? Will I have to leave my community? Will I be ruined financially? Will I be able to financially recover from this?
Our firm understands what a stressful and troubling situation facing real-estate-related debt difficulties can be and we work hard to help our clients who are in such situations understand what debt relief options they have and pursue the options they ultimately decide on.
The main debt that most people think about when it comes to real estate is mortgage debt. However, this is not the only type of real-estate-related debt a homeowner can face and experience struggles with. For homeowners who belong to a homeowner association, another such debt they can face are debts related to being part of the association. There are a wide variety of different fees, assessments and dues a homeowner can end up being assigned by their homeowner association. A person can quickly end up finding themselves facing a debt problem if they fall behind on such payments.
Falling behind on such fees, assessments and dues is often no small matter. Rather falling behind on such things can leave a homeowner facing some aggressive collection actions from their homeowner association.
For further information on this type of real-estate-related debt, see our firm’s page on debts owed to homeowner associations.