My friend received a foreclosure notice. She owns a condo but is behind on her Home owner Association Dues because she lost her job. So she is current on her mortgage, just behind on her Condo Fees.
I told her to file Chapter 7 not Chapter 13. Chapter 7 eliminates date while Chapter 3 is a payment plan and it allows you to save your home. But HOA fees can be eliminated threw a chapter 7 and the debt is wiped clean. It also stops the foreclosure and brings her current on her HOA fees.
On the other hand Chapter 13 is a payment plan. She would have to pay both her mortgage and Condo fees in one payment. The debt HOA past due payments so not go away like the Chapter 7. She can't afford the payments now so an increase would make it worse.
Am I advising her correctly or am I way off? She lives in Ohio if it helps
Expert Feedback would greatly be appreciated.
Read more: Chapter 7 or Chapter 13? (Behind on HOA Fess and received foreclosure notice)?
