Want to move but don’t want to change interest rates

[Anonymous]

Join the board and on bad not paying HOA dues file a lien and foreclose.

You can also file legal action against tenant. I am on a HOA board and a deadbeat owner not only did we move to foreclosure we went after tenant. Our lawyer requested he pay rent to HOA until arrears are satisfied.

He refused then out lawyer stated a unit in arrears not entitle to park on our property so we towed tenants car.

The tenant then went on rent strike with owner prompting him to sell.

[Anonymous]

Anonymous wrote:Join the board and on bad not paying HOA dues file a lien and foreclose.

You can also file legal action against tenant. I am on a HOA board and a deadbeat owner not only did we move to foreclosure we went after tenant. Our lawyer requested he pay rent to HOA until arrears are satisfied.

He refused then out lawyer stated a unit in arrears not entitle to park on our property so we towed tenants car.

The tenant then went on rent strike with owner prompting him to sell.

Finally found that POS HOA board guy who forces his/her way all times

[Anonymous]

Anonymous wrote:My partner and I bought our first home Dec 2021. We bought a starter home - a townhouse that is quite within our financial means, and wasn’t as intimidating as starting with a SFH (also, had 8 failed offers on SFHs - so figured it was time to pivot).

Fast forward one year and we want to move [insert laugh-cry emoji here].

We’re tired of dealing with the HOA and close neighbors, and we want more space, SFH, etc.
Our current home seems like it will sell at a price that will more than cover what we spent plus closing costs, and then some. We’ve made some smart upgrades and the neighborhood seems to be selling for well over what we bought ours for.

But, we have a low interest rate, and if we sold and bought somewhere new, our rate would jump up, and we wouldn’t be able to afford what we want because of that.

Not enough cash to buy somewhere without selling this place (or investments that are down due to the market), and we want to be rid of this HOA anyway.

Any ideas on what to do?
Currently we’re between:
A) sell this spring, and rent till rates go down
B) sell this spring and buy somewhere different but not as nice as we want
C) wait till the fall to sell (bonus, no capital gains tax bc 2 years of ownership) and hope rates fall by then

Thoughts?
Thanks!

Don't know what you should do, but don't do the bolded because you already want to leave a place you bought but don't like; don't make the same mistake by buying another place you don't really like.

[Anonymous]

You are seriously underestimating how quickly buyers will run when they find out about your mold issue (which you are required to reveal).

You are seriously underestimating how much it actually costs to move. You will pay MUCH MORE as a seller than you did as a buyer. This is why most people say you need at least 3-5 years in a home before you sell.

Renting and paying extra interest is just like throwing money away... just find a way to stick it out. Agree that joining the board can be a great way to deal with HOA issues.

[Anonymous]

This thread is making me very glad we stretched our budget when we bought in fall 2020. My husband and I may currently be in a heated debate about whether we can afford strawberries, but we’ve got a 3% interest rate and we’re never leaving.

[Anonymous]

Anonymous wrote:This thread is making me very glad we stretched our budget when we bought in fall 2020. My husband and I may currently be in a heated debate about whether we can afford strawberries, but we’ve got a 3% interest rate and we’re never leaving.

Same. $8 strawberries are ridiculous. Don’t get me started on $11 eggs.

[Anonymous]

We rented our place.

It just makes more sense this way.

[Anonymous]

Stay for 5 years and then revisit moving.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Join the board and on bad not paying HOA dues file a lien and foreclose.

You can also file legal action against tenant. I am on a HOA board and a deadbeat owner not only did we move to foreclosure we went after tenant. Our lawyer requested he pay rent to HOA until arrears are satisfied.

He refused then out lawyer stated a unit in arrears not entitle to park on our property so we towed tenants car.

The tenant then went on rent strike with owner prompting him to sell.

Finally found that POS HOA board guy who forces his/her way all times

I am just treasurer. But anyone who does not pay fees we go after

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Join the board and on bad not paying HOA dues file a lien and foreclose.

You can also file legal action against tenant. I am on a HOA board and a deadbeat owner not only did we move to foreclosure we went after tenant. Our lawyer requested he pay rent to HOA until arrears are satisfied.

He refused then out lawyer stated a unit in arrears not entitle to park on our property so we towed tenants car.

The tenant then went on rent strike with owner prompting him to sell.

Finally found that POS HOA board guy who forces his/her way all times

I am just treasurer. But anyone who does not pay fees we go after

The tenant though? That’s like debt collectors calling your neighbors to harass you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Join the board and on bad not paying HOA dues file a lien and foreclose.

You can also file legal action against tenant. I am on a HOA board and a deadbeat owner not only did we move to foreclosure we went after tenant. Our lawyer requested he pay rent to HOA until arrears are satisfied.

He refused then out lawyer stated a unit in arrears not entitle to park on our property so we towed tenants car.

The tenant then went on rent strike with owner prompting him to sell.

Finally found that POS HOA board guy who forces his/her way all times

I am just treasurer. But anyone who does not pay fees we go after

The tenant though? That’s like debt collectors calling your neighbors to harass you.

That’s way worse. A tenant has no idea about the HOA non payment, and is likely locked into a lease. Did you see The Big Short? All you should do is evict when it comes time to sell.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Join the board and on bad not paying HOA dues file a lien and foreclose.

You can also file legal action against tenant. I am on a HOA board and a deadbeat owner not only did we move to foreclosure we went after tenant. Our lawyer requested he pay rent to HOA until arrears are satisfied.

He refused then out lawyer stated a unit in arrears not entitle to park on our property so we towed tenants car.

The tenant then went on rent strike with owner prompting him to sell.

Finally found that POS HOA board guy who forces his/her way all times

I am just treasurer. But anyone who does not pay fees we go after

The tenant though? That’s like debt collectors calling your neighbors to harass you.

That poster is full of it. The tenant has no contractual obligation to the HOA so you cannot go after them. If the HOA foresees and forces a sale the new owner can evict them after the term of the lease.

[Anonymous]

Find a for sale by owner who has an assumable mortgage. FHA is assumable I think.

[Anonymous]

It sounds like you can't really afford to move so focus on liking your house as much as possible. I lived in a tiny townhouse with two young kids for 7 years. It was tough at times but we made it work and have a lot of great memories from those days.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This thread is making me very glad we stretched our budget when we bought in fall 2020. My husband and I may currently be in a heated debate about whether we can afford strawberries, but we’ve got a 3% interest rate and we’re never leaving.

Same. $8 strawberries are ridiculous. Don’t get me started on $11 eggs.

Since they’re about $3 we won’t have to.