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Sure. I actually owed the HOA about 5 months of back dues at $304 per month. So my real debt was about $1500. But, by the time they took me to court for a judgement, they had added $5000 in the HOA's attorney's fees. My judgement/ lein was for approx $6500, when I was evicted. Supposedly, the HOA paid $7000 for my home, because that was the exact amount of my judgement by that moment. (my property taxes were all paid up to date.) They well KNEW I had a Reverse Mortgage, but just ignored it. Then their OWN $7000 buyer's amount, paid their own lawyer's bill?? I guess.
About one year after I left, the HOA received a check from The Bank of America for $22,189 to cover the lein, which I can only assume grew from $6500 to $22,189 in a year!! I thought the lein was paid off by the Sheriff's Auction of the property? The bank told me they paid the lein to establish me as the OWNER. If so, what was that Sheriff's Auction and sale of my home all about? And my eviction?
The HOA moved a renter in about January 2011, three months after they "bought" it at the October 2010 auction for $7000 and, I guess, believed it was theirs? They did thousands of dollars worth of remodelling first (which now appears was done on property owned by ME, without my permission!). My friend tells me that the same renter has been there from 01/2011 - 06/2013 (present), paying $1200 per month. So, they have collected approx. $36,000 of rent on property that was legally MINE at the time. I'm sure they prayed every day that they had sufficiently been scared away and would never look into things.
Also, my Reverse Mortgage was for approx. $60,000. But the appraisal for the mortgage appraised it at $99,000. Any equity I still might have had was left behind when they evicted me and seized my property.
I wonder to whom the town has been sending the property tax bill each quarter for three years????
I was just thinking a bit more about looking at my problem, as you suggested, in "plus" and "minus" columns:OWED BY ME, TO HOA IN 2010 TAKEN FROM ME TO PAY HOA
approx. back dues: $1500 my home(appraised2010) $99,000
HOA Attorneys fees $5000 Bank of Am. lein pmt. $22,196
______ 30 months rent @$1200 $36,000
Judgement against me $6500 $157,196
Sheriff paid $7,000 at auction
WANTED: ATTORNEY EXPERT IN REAL ESTATE LAW
STATE OF NEW HAMPSHIRE
Please, please note my posting of a question dated June 24, 2013, MISLABELED as "Personal Injury Law"! I am a loyal JA SUBSCRIBER for many years and I received my first very unsatisfactory answer on June 25, 2013 and June 26, 2013 from INFO-LAWYER.
As it is a complicated real estate matter, I don't really want to write it all over again. I am in desperate hope that a quality JA Attorney will see this and come through for me!!!! QUICK!!
REALLY?? My question is labeled "closed"!! Please see my "EDIT" below.
Hello. Another expert here. I see numerous problems with anything you try to do legally at this point. Apparently, BofA , as the holder of the reverse mortgage paid off the HOA's debt with the $22k, although I have no idea why they would do so. They could have simply foreclosed against the HOA because you had probably violated its terms by being foreclosed on and evicted. (Note: I have not read your mortgage, but I'm fairly certain that a sheriff's sale would trigger the due date.) If the HOA's debt was satisfied by the $22k, the HOA could not retain ownership and continue to collect rent. The property should have been put back in your name. It appears that the HOA simply used a small debt for dues to take over your property and make a lot of money from it over the next three years. You can sue the HOA for an accounting of all the money they took in from both the rent and from BofA. As far as the pending foreclosure action is concerned, I do not have enough information about it, and do not wish to speculate here.
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Thank you so very, very much for a clear and "on point" answer. I am grateful for it.
I have some last questions:
1) If I were to pursue legal recourse against the HOA, am I going to encounter any (for lack of proper terminology) Statute of Limitations? The Sheriff's Auction was in October 2010 where the HOA purchased my property appraised for $99,900 w/$60,000 in Reverse Mortgage, for $7,000 (the exact amount of their own lien on my property for past dues).
2) The Bank of America's check - written for $22,196 to the HOA - was issued to satisfy the lien (?????) (they evidently allowed it to climb from $7000 to $22,000 w/additional atty fees post-auction - what a sweet deal that was!) in December 2011. I had a pro-bono atty tell me at the time to pursue the Homestead Act, which disallows a disproportionate windfall profit from profiting the buyer. Is that a legitimate vehicle for me now?
3) Did the HOA ever have any legal responsibility toward the Reverse Mortgage? The terms are that the Rev Mort comes due when you no longer live there, BUT I was forced out of my home by the Sheriff, at the direction of the HOA, who simply seized my home!! If not for my home being seized, I would still be there. Doesn't that figure in somewhere?
4) MOST IMPORTANT QUESTION: The bank tells me that my Reverse Mortgage is in foreclosure and is nearly complete. When it becomes final, are the tenants required to give the property back to the bank, as would happen with a normal mortgage???? How else will the bank be made "whole"???? Isn't it a bit odd that the current owner of record is the HOA and they rent it for $1200 per month .... yet neither the HOA, nor the tenant own the mortgage. How can the bank just let itself be SCREWED??
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