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Law Pro
Law Pro, Lawyer
Category: Real Estate Law
Satisfied Customers: 24869
Experience:  20 years extensive experience in real estate law, foreclosure, finance, and landlord tenant law.
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Hi: Im interested in a property locally and Ive researched

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Hi: I'm interested in a property locally and I've researched some...I see a final judgement of homeowner's association foreclosure for around 15k. I understand this is back association dues/maintenance fees....but it shows foreclosure on real property. I visited the's not for sale or rent, is empty and I cannot find any satisfactions of mortgage (I'm probably not looking in the right place) and frankly, the house is worth at least 250K and is in a great area. I'm thinking this is too good to be true, that at public auction I could buy a place like this for maybe 15-20 k.........I'm thinking I would be buying the lien only and not the house. Have you ever heard of something like this? The judgement indicates the lien would survive a foreclosure and I don't want to risk 15-20k and not get a house. Can you help me out here?

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Is the property a townhouse or individual home or what?
Customer: replied 3 years ago.

The property is an individual single family home in a high end area on a golf course, near a canal, 3/2, 2011 sqft, 7405 sqft lot, last sold Jan 2007 for $257,300.00. The lien that is going at the foreclosure auction lists the legal of the property, and the finaljudgement indicates the lien will survive any foreclosure so I'm concerned if the 15k total final judgement is JUST the HOA bac dues/maintenance fees, or if I pay 15-20k at auction, I get this house. I've been unsuccessful in finding out if the mortgage if any, has been satisfied....thanks!

In an HOA foreclosure, any pre-existing leins survive the foreclosure. The only person removed from the picture is the owner who is foreclosed on. The new owner takes title to the property subject to the existing mortgages and/or leins which are each assigned a priority based on their filing dates.

Liens take priority according to the date of their recording. The foreclosure of the HOA lien will wipe out any liens recorded after it was recorded in the public records in the county in which the property is located. All of the liens recorded prior to the HOA lien will survive.

Does that answer your question?
Customer: replied 3 years ago.

Not really - basically - if I win the bid for the HOA lien, do I get the house?

You will get the house BUT you will also get the previous existing liens too - any mortgages that were in existance and not paid off.

So, you need to know by checking the records what the mortgage balances are - potentially the house is "upside down" where the mortgages are more than the fair market value of the house.
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