Question:
When the property foreclosures, how many months is the mortgage responsible for paying delinquent assessments? Is there a Maryland on cap of months the mortgage company needs to pay?
– Esther
Answer:
In Maryland, when a property goes through foreclosure, the mortgage lender may be responsible for paying a portion of the delinquent HOA or condo association assessments. The specific duration for which the mortgage lender is liable for these delinquent assessments can depend on the governing documents of the association as well as state laws. You will find provisions under Maryland Condominium Act Section 11-110 (for condos) and Maryland Homeowners Association Act Section 11B-117 (for HOAs).
It is best to also check your governing documents and consult a lawyer for further guidance.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
