To Disclose or NOT (name on HOA)?

[dream16]

Alright guys, pardon me for my question, might be dumb, but hey i gotta ask it:

1. Any benefits of NOT sharing home owners name/contact info etc to be shared by HOA folks with others?
2. If someone else wants to pay my HOA per month, does HOA folks have an issue with that? Is there a rule that dictates that only the HOMEOWNER must be paying the HOA every month?

What if the homeowner has a god father who wants to shell out the $3500/year something in HOA for the homeowner?

Thank You

 

[OC troll]

Alright guys, pardon me for my question, might be dumb, but hey i gotta ask it:

1. Any benefits of NOT sharing home owners name/contact info etc to be shared by HOA folks with others?
2. If someone else wants to pay my HOA per month, does HOA folks have an issue with that? Is there a rule that dictates that only the HOMEOWNER must be paying the HOA every month?

What if the homeowner has a god father who wants to shell out the $3500/year something in HOA for the homeowner?

Thank You

Why so complicated? Just have "god father" dump the $3500 in your account. Then you just write your check like any other homeowner.

 

[bones]

I don't think it matters who the payment comes from.  Just have godfather write a check to the HOA with your account number on it.  It'll credit the account $3500 and it'll deduct from that amount going forward until the amount runs out.  Lots of homeowners prepay the whole year. 

 

[irvinerealtor]

^^^ The third amigo is correct.

As long as the account is paid, the HOA will have no issue with the source.

The problem to be wary of is if godfather fails to make payment...
Depending upon your HOA and their delinquency process, after some time and some debt has accrued, they could potentially foreclose on the home and force a sale. This (and the severe shortage of fairy godfathers) is why almost all owners pay their own HOA dues, even when renting the home out to tenants.

-IR2

 

[dream16]

^^^ The third amigo is correct.

As long as the account is paid, the HOA will have no issue with the source.

The problem to be wary of is if godfather fails to make payment...
Depending upon your HOA and their delinquency process, after some time and some debt has accrued, they could potentially foreclose on the home and force a sale. This (and the severe shortage of fairy godfathers) is why almost all owners pay their own HOA dues, even when renting the home out to tenants.

-IR2

Haha thanks guys, godfather will simply slap a check on the faces of HOA with my home number written on it to make it all too easy. I have the funds but why not use the godfather

 

[dream16]

I don't think it matters who the payment comes from.  Just have godfather write a check to the HOA with your account number on it.  It'll credit the account $3500 and it'll deduct from that amount going forward until the amount runs out.  Lots of homeowners prepay the whole year.

'


But wait a bigger Q then is: how will i be able to write-off the HOA money i am going to spend this year as a tax-write-off next year if the godfather pays it

 

[bones]

I don't think it matters who the payment comes from.  Just have godfather write a check to the HOA with your account number on it.  It'll credit the account $3500 and it'll deduct from that amount going forward until the amount runs out.  Lots of homeowners prepay the whole year.

'



But wait a bigger Q then is: how will i be able to write-off the HOA money i am going to spend this year as a tax-write-off next year if the godfather pays it

I'm no tax expert but thought you couldn't deduct primary residence HOA. But honestly, a lot of questions for $3500. Why not just have godfather buy your wife/gf a Chanel flap so now you don't have to. And you can pay your own dues and it'll be a wash. Money's fungible right?

 

[momopi]

Alright guys, pardon me for my question, might be dumb, but hey i gotta ask it:

1. Any benefits of NOT sharing home owners name/contact info etc to be shared by HOA folks with others?
2. If someone else wants to pay my HOA per month, does HOA folks have an issue with that? Is there a rule that dictates that only the HOMEOWNER must be paying the HOA every month?

What if the homeowner has a god father who wants to shell out the $3500/year something in HOA for the homeowner?

Thank You

It's probably a good idea to have your contact info at the HOA, in case if they need to call you or if there's an emergency.

Back in 1999-2000 when I bought my first place in Irvine (new construction), I was on first name basis with my neighbors and we had pool BBQ parties.  We all had each other's contact info and I think some shared their WiFi.    However by 2008 my neighborhood was full of new faces and my neighbors did not want to talk to me or exchange contact info.  When I say "good morning" to a women with baby carriage walking by, she either refuse to acknowledge me or grunts in reply and hurry away (oddly, while my neighbors did this, strangers at Quail Hill trail head were more friendly).  So I guess if the house burned while I was away, they'd contact the HOA to reach me or something.

As for the HOA fee payment, just setup auto pay from whatever account you want to pay from.

 

[freedomcm]

But wait a bigger Q then is: how will i be able to write-off the HOA money i am going to spend this year as a tax-write-off next year if the godfather pays it

HOA not deductible.  So no problem.

 

[gasman]

But wait a bigger Q then is: how will i be able to write-off the HOA money i am going to spend this year as a tax-write-off next year if the godfather pays it

HOA not deductible.  So no problem.

...unless a portion of your home is used for business or home office.  Then a % is deductible.

...unless you are subject to AMT.  Then you are SOL.