Real Estate Law
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You purchased the Association lien through the court, correct?
Ok so, when you purchase the Association lien, you are purchasing the junior lien. The bank's lien is the senior lien. You essentially own the property until the bank forecloses.
In other words, when someone lives in a property with an Association and they stop paying the bank and the association, what ends up happening is that both of them foreclose. However, the Association typically moves much quicker on their foreclosure. People either end up by the Association lien because they think they are getting a great deal and they really are not buying what they thought they were or they know how far along the bank's foreclosure is and they intend on renting out the property and stalling the bank's foreclosure to make money on it while they have it.
Basically, you bought the junior lien and now the senior lien (the bank) is foreclosing. Once they complete their foreclosure, your interest will be extinguished and you will no longer own the property.
Unfortunately, you would lose that money.