Paying back assesments on REO

[Gonzalo]

I am purchasing a Fannie Mae owned REO for 56k in Chicago. After we went under contract the HOA took 10 days to produce the 22.1 disclosures. The HOA is requring that 44k be paid, 33 from the bank and 9k from me.

The assessments are only 460 a month, isnt the most I can be charged 6 months back assessments?

 

[HomeGuru]

I am purchasing a Fannie Mae owned REO for 56k in Chicago. After we went under contract the HOA took 10 days to produce the 22.1 disclosures. The HOA is requring that 44k be paid, 33 from the bank and 9k from me.

The assessments are only 460 a month, isnt the most I can be charged 6 months back assessments?

**A: what did the HOA tell you when you asked them the same question?