Prioritizing is often part of debt management.  What can you afford to pay?  What are you behind on?  Which is closest to collections?  Which is accruing interest?  Which has the greatest penalties?  Do you pay Water?  Electric?  Mortgage?  Homeowners’ Association Dues?  If you cannot afford to pay them all, which ones do you pay? Conventional wisdom might say to pay your mortgage before you pay your credit card bills, but if you cannot pay your mortgage, why pay your homeowners’ association dues?  Here is why:  You live there.  Your neighbors live next to you.  Paying your association fees is part of the upkeep of the property value for the homes around you. You may not be living in the best state of mind if you are falling past due on your mortgage, but you still have to live there until you figure out something else.  Your neighbors have to live there too.  Association fees, for homeowners and condo residents, go towards the infrastructure of your neighborhood or condominium and help to upkeep the amenities and common areas you and your neighbors enjoy. Furthermore, mow the grass, pay your dues and generally the judge will look more favorably on your foreclosure [...] Read More