Can HOA Evect?
I am working on this SS; she also owes $4000 on HOA fees.
And HOA evected her and changed the locks on the home! I did not know they could do that.
How much would I offer the HOA? How does that work; just tell them that I want to make an short offer on the amount due and send them a letter with my offer amount?
The home is worth 175K and and owes 180K on mtg
Never heard of an HOA eviction.
I have seen judgements and "lis pendens" filed by HOAs, having paid a couple at closings when buying distressed condos.
An RE attorney needs to look at the HOA docs and interpet them.
Jim
Depending on the bylaws a HOA lien would be a second even if they foreclosed so they should not have been able to get her out of the property. You need to see the docs and she definitely needs a lawyer if the HOA really evicted her.
[ Edited by linlin on Date 05/17/2007 ]
I am working on the SS (2 mtg with same lender) and she moved to an apartment. I was wondering how to approach the HOA for a discount.
When a HOA forecloses on a lien, the judgment language usually transfers title to the HOA and makes the HOA the new owner of the home, subject to the existing encumbrances....whatever they are: liens, mortgages, judgments, etc.
You never know.... the HOA may accept less than they have into their action. (Probably past dues plus a couple of thousand in lawyer costs, interest and fees.)
All you can do is ask. You would be buying their position, subject to everything their ownership is subject to.
[addsig]