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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 17447
Experience:  B.A.; M.B.A.; J.D.
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My house was sold by the HOA in 2013 in Nevada, Chase started

Customer Question

My house was sold by the HOA in 2013 in Nevada, Chase started my foreclosure in 2009. We had 3 mediation and chase failed to bring proper documentation. Do I owe chase for the mortgage? Can I have them remove it from my credit report?
Submitted: 7 months ago.
Category: Real Estate Law
Expert:  Ely replied 7 months ago.
Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms. I am sorry to hear about this situation. What happens in this case is that the HOA triggers the foreclosure, but the primary mortgage (Chase) is who gets paid first. If there is anything left over, the HOA gets paid. If Chase was not paid the whole contract which it was owed per the mortgage in the foreclosure, then they have a right to bring a lawsuit against you. This is called a deficiency lawsuit. They have 6 years to file such a lawsuit. As such, they may still have time to file a suit. Unfortunately, you cannot take the matter off your credit - a foreclosure stays on credit for about 7 years. Please note: If I tell you simply what you wish to hear, this would be unfair to you. I need to be honest with you and sometimes this means providing information that is not optimal. Negative ratings are reserved for experts who are rude or for erroneous information. Please rate me on the quality of my information; do not punish me for my honesty. I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time. Rating my answer the bottom two faces/stars (or failing to submit the rating) does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.
Customer: replied 7 months ago.
That doesnt make sense. I am told and read on line that the HOA is higher than the mortgage company and they have the right to sell. So is the siz years from the date that the HOA sold the house or from the start of forecloure? Are you familiar with NEvada laws?
Expert:  Ely replied 7 months ago.
Hello, " I am told and read on line that the HOA is higher than the mortgage company and they have the right to sell." That is not true. The primary mortgage lender has lien priority if the HOA triggers a foreclosure. This is true in Nevada as well. However, I do not wish to argue with you. I am going to opt out and open this up for others. Good luck!
Expert:  Phillips Esq. replied 7 months ago.
A different Professional here. Your Statement: "I was told by an attorney a few years ago that since HOA auctioned the house, I dont owe chase anything. Response: That is an oversimplification of a very complex issue. Only nine months of unpaid HOA assessments have "superpriority" over a first mortgage, first deed of trust. So, if HOA properly foreclosed for just nine months of the unpaid HOA assessments, then the first mortgage would be extinguished. Otherwise, no. See Nevada Revised Statutes Chapter 116 Section(###) ###-####and 3116.31162. Even if the mortgage were extinguished, that only applies to the lien's removal from the property. You would still be personally liable on the Note and thus the first mortgage lender can still come after you for the loan. The mortgage cannot be removed from your credit report. Kindly give a positive rating to my post so that I can receive credit for answering your question—so that part of the deposit that you already paid to the site can be transferred to me. You are not charged extra for doing this. Thank you for your cooperation.

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