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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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Resolved Question:

i RECEIVED A NOTICE OF FORECLOSURE FROM MY HOA. My home is underwater to the tune of $140,000. The HOA claims they can foreclose, take my house and leave me with the mortgage debt. Is this true?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 5 years ago.

Thank you for your question. I am happy to assist you.

I am a Florida lawyer with 25 years experience. While I am permitted to provide you with legal information, I am prohibited by and various state bar associations from giving legal advice, representing you or entering into an attorney-client relationship through this open and nonconfidential forum.

Unfortunately the HOA can foreclose. If the sale proceeds are not sufficient to pay the HOA and the mortgage, the HOA will be paid first. The lender may then pursue a deficiency judgment against you

I hope that it helps to know this information

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