HOA Foreclosures In Texas?
Does anyone have any experience purchasing, pre-foreclosures or at auctions, properties that have gone into foreclosure due to unpaid home owner association dues? If so, would like more info. Upside? Downside?
The upside is that you get the deed to the property.
The downside is that your deed is subject to All previous encumbrances. 1st mortgage ? 2nd ? Any others? Liens? Judgements?
They all survive foreclosure, whch is why most HOA foreclosures are worth ZERO these days!
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