[niki_lenea]

My boyfriend and I bought a condo. In November 2007 we were unable to make our
Mortgage payment because we had both been laid off from our jobs. We had to move
Out of the condo a couple of months earlier because of water damage and
Pre-existing mold that needed to be taken care of. Our mortgage payment was
Getting ready to adjust because we had a fixed rate for 24 months then it became
Adjustable. I called IndyMac bank to find out what our options were and they
Advised us it was best not to pay our payment for 3 months because after the
Three months they would be able to work with us and adjust our interest rate so
It would be affordable for us. Now, I had received incorrect information from
IndyMac bank before so I called back three different times that day and I got
The same story from all 3 different representatives I spoke with. Needless to
Say they all lied because they wouldn't work with us what so ever. We had talked
To a realtor and she suggested a short sale. I looked into it and Omar and I
Decided that the best option was to try a short sale. IndyMac bank sent us a
Hardship packet and we filled it out. Our house went on the market in November
2007. We didn't receive anything further from the bank. Our realtor contacted
The bank every week to keep up on the status of what was going on. We received 3
Offers. We called IndyMac bank several times but received no response on what
The status of the offers were. On June 6th, 2008 to be exact, we received a
Notice of trustee sale date for June 11, 2008. We notified our realtor and she
Called IndyMac bank and they insisted that was incorrect because the sale was
Not until July and that we could not file an extension until it was within 2
Weeks of the sale date. At this time our realtor advised us that she was calling
The bank every week and every call she is told a completely different story then
The time before. She was given information for someone that was reviewing our
Short sale file but that person didn't contact us back to let us know the
Status. We didn’t receive anything further about the trustee sale or the short
Sale. All of our buyers had to walk away because they lost their funding because
Of the renter/owner occupancy rate. The locks on the door have been changed by
The bank, thank god we moved in June when we got that notice, and now the HOA is
Sending us a bill for the May, June July, and August HOA fees stating that we
Are still the legal owners of the condo so we have to pay the HOA dues. Are we
Still legally responsible for paying the HOA dues? And does the bank have to
Send us anything regarding the status of the condo? Because the last thing I
Received was the Trustee sale notice for June 11, 2008 and a confirmation letter
Stating they have updated our address for mailing purposes. Do we have any legal
Rights?

[Fr_Chuck]

The HOA needs to merely put a lien on the property, and let the bank worry about it.

But this is a debt you owed, up to the point that the bank took over ownerhsip.

Banks do not have to accept short sales, while we recommend here that you try, last year every offer I sent in to a bank was refused or ignored.
For some reason every bank I tried to deal with last year would not even consider a short sale.