Cashout Refinance Home Owners Association Lis Pendens
Yes, you can cash out refinance to pay your past do the HOA in Florida. If you are past due on the Florida Homeowners Association (HOA), the HOA has most likely filed a Florida lis pendens on your property to recover the arrears payments. Florida lis pendens signifies a legal action against your Florida house related to unpaid HOA fees and or other Florida violations. A Florida lis pendens creates a “cloud on the title,” making it difficult to sell or refinance your Florida property with a list pendens until the association files a RELEASE OF LIS PENDENS. I cannot give you legal advice, but under the right conditions, I may be able to help you refinance. HOA Actions: The Florida HOA is likely pursuing legal action to recover the unpaid fees and might be in the process of foreclosure.
Yes, you can cash out refinance to pay your past dues to the HOA in Florida
Lis pendens Could Stop You From Refinancing-
A lis pendens on your property will likely prevent you from refinancing. You may qualify If: 1) you have at least 40% equity in your home and 2) your home is non-owner occupied. Homes may qualify for a Florida hard money refinance. Mortgage lenders are typically hesitant to refinance Florida homeowners having difficulty making their current monthly obligations. The thought is if you cannot pay now how are you going to pay a higher loan amount? Florida lis pendens will cloud the title and create potential create a costly lien of attorney fees and back payments
Hard Money Florida Mortgage Not Limited to:
- Single-family home – No Tax Return, Florida Mortgage Lenders
- Luxury Jumbo – No Tax Return Florida Mortgage Lenders
- Townhouse- No Tax Return, Florida Mortgage lenders
- Manufactured home – No Tax Return, Florida Mortgage Lenders
- Co-op – No Tax return, Florida Mortgage Lenders
- Condotel – No Tax Return Florida Mortgage Lenders
- Investor Loans- No Tax Return, Florida Mortgage Lenders
- Commercial – No Tax Return Florida Mortgage Lenders
Florida Mortgage Refinance Situations Include:
- Buy-Out-Florida Mortgage Refinance
- Refinance Florida Department of Revenue Warrant
- Stop Foreclosure Florida Mortgage Lenders
- Refiance Florida Homeowners Association Lis Pendens
- Refinance Florida Lis Pendens –
- Refinance Florida Claim of lien –
- Refinance To Pay Florida Tax Lien –
- Refinance Florida Code Violations –
- Refinance Florida Final Judgment –
Cashout Refinance Florida HOA Types Include:
- Single-family home – No Tax Return, Florida Mortgage Lenders
- Luxury Jumbo – No Tax Return Florida Mortgage Lenders
- Townhouse- No Tax Return, Florida Mortgage lenders
- Manufactured home – No Tax Return, Florida Mortgage Lenders
- Co-op – No Tax return, Florida Mortgage Lenders
- Condotel – No Tax Return Florida Mortgage Lenders
- Investor Loans- No Tax Return, Florida Mortgage Lenders
- Commercial – No Tax Return Florida Mortgage Lenders
Cashout Refinance HOA With No Tax Returns:
- No Doc, No W2, No Tax Return = OK Bank Statement Deposits = OK Jumbo No Tax Returns = OK
- Home Loan No Tax Returns =OK 1099 mortgage Lenders = OK 3 Months Bank Statement = OK
- Self-Employed Less than 1 year = OK VOE Only Mortgage = OK Asset Depletion = OK
- ITIN No Tax return mortgage = OK Nonresident No Tax Return = OK Pledged Assets = OK
- Asset Depletion or Pledged = OK Business Profit Loss = OK DSCR Rental Income = OK
Resolution is Key: You need to resolve the underlying issue with the HOA to get all payments current and remove the lis pendens to clear your title.
Start Making Progress Today!
Communicate with the HOA: Stay in contact the HOA or their legal counsel to understand the exact nature of the dispute, the amount owed (including fees, interest, and legal costs), and explore options for a repayment plan, settlement agreement.
Negotiate a Settlement: Attempt to negotiate a settlement with the HOA that includes a full release or satisfaction of the lien and the lis pendens upon payment.
Seek Legal Counsel: Consult with an attorney that specializes in real estate law and HOA disputes. They can advise you on your rights and options, negotiate on your behalf, and ensure the proper legal procedures are followed to remove the lis pendens.
Timeliness: Act quickly to address the issue, as delays can lead to increased costs and potentially foreclosure.
Documentation: Ensure all agreements and releases from the HOA and/or their legal counsel are in writing and legally binding.
Avoid Disclosure to Collections (in certain situations): If negotiating a settlement, it’s generally not advisable to reveal that you’re attempting to sell or refinance the property, as it might impact the negotiation process.
By addressing the lis pendens, clearing your title, and ensuring proper documentation, you can potentially open the door to refinancing your property in the future.
Consider a Cash-Out Refinance (if feasible): In some cases, a cash-out refinance to bring your HOA payments may be possible. Once a settlement is reached or a HOA judgment is issued, pay off the amount owed to the HOA and ensure the lien release and lis pendens removal are properly recorded.
