WilliamB13 (Florida)
Posts: 14
Posts: 14
Posted:
Has anyone done a foreclosure to collect money owed to the HOA. How much did it cost in attorney fees. Was it worth it, would you do it again ??? Thank you
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BruceF1 (Connecticut)
Posts: 2,535
Posts: 2,535
Posted:
Melissa? I think you've been through this before. Any suggestions?
CarolF (Florida)
Posts: 435
Posts: 435
Posted:
William - here are two good websites that give information about the foreclosure process in FL. It doesn't answer the question of how much it might cost, however. I would caution you that the AL foreclosure (where Melissa lives) is a non-judicial process. Therefore it would probably be different in cost from a judicial procedure here in FL.
The 2nd site talks specifically about the HOA foreclosure.
http://www.faruquilawfirm.com/practice-areas/foreclosure-defense/florida-foreclosure-procedure
http://www.floridacommunitylaw.com/lawyer-attorney-1612986.html
The 2nd site talks specifically about the HOA foreclosure.
http://www.faruquilawfirm.com/practice-areas/foreclosure-defense/florida-foreclosure-procedure
http://www.floridacommunitylaw.com/lawyer-attorney-1612986.html
HoaC (Florida)
Posts: 95
Posts: 95
Posted:
Quote:
Posted By WilliamB13 on 07/24/2011 2:40 PM
Has anyone done a foreclosure to collect money owed to the HOA. How much did it cost in attorney fees. Was it worth it, would you do it again ??? Thank you
Has anyone done a foreclosure to collect money owed to the HOA. How much did it cost in attorney fees. Was it worth it, would you do it again ??? Thank you
We have. The attorney fees vary depending upon the Attorney, the area, and whether it is contested or uncontested.
Our attorney cost us !500 - $2000 if it is uncontested and around $4000 - $5000 contested. We are pursuing a few more now. We intend to begin in the next 30 - 45 days.
But, we ran into some issues you need to be aware of. If the owner allows the Mortgage company to foreclose, the Mortgage Company has the first ownership. However, the mortgage company allows us to rent the property and we collect our fees this way. Usually, the mortgage company, aka the bank, begins foreclosure to have sole ownership in the property. But, not always.
We have one owned by the bank as 1st mortgage and we have second on it now. The bank is trying to resell and reimburse us the monies we are Owed.
Definitely discuss this with your attorney. If you need a good one that is affordable, send me an e-mail.
Keep your lien on the property!
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
It really depends on the situation. I agree with HOAC's post. Would I do another foreclosure? Sure if it was necessary...
You really need to know the ownership status prior to foreclosing. Don't pursue if the bank is foreclosing. That's a waste of time and money. Just make sure you have a lien or in some cases a "Super lien" on that property.
If there are NO foreclosure process going on and the lien has been attached for significant time, then it's an option worth using. The act of just pursuing a foreclosure can be enough to get some to take action. A FORECLOSURE STOPS AS SOON AS THE MONEY OWED IS PAID. A letter of intent to foreclose is usually the kick in the rear to get any action/reaction started. This is at the state you either get them to contact to make payment arrangements or prepare for battle. It's also a good state where there is not so much legal charges to add onto the amount owed. The HOA legal costs are usually limited to the previous lien filing fees and lawer drafting the intent to foreclose letter.
IF you do pursue a foreclosure, realize you are doing the work of the bank for the bank. They are going to get paid first no matter what. So make sure that property is worth it. It may be worth just to stop the bleeding than getting any monies back.
REMEBER: THE HOA DOES NOT WANT TO OWN THIS PROPERTY!!! I can NOT stress this enough that it is NOT a good deal for a HOA to get the house at the foreclosure. They are offered the first bid. However, it's a HUGE bad idea. The bid amount starts out at the amount the HOA is already out and foreclosing for. So winning the bid at that point means the HOA just doubled it's losses. The HOA would also need to maintain, pay mortgager, repair, and pay dues on this property. Can your HOA afford a house payment and repairs? It costs money to sell the property as well. Plus leaving it empty isn't good for the HOA's aesthetics.
Yes, a foreclosure is useful and worth pursuing. It really depends on the outcome your looking for. Basically, I would say if you want to stop the bleeding of your budget, then go for it.
You really need to know the ownership status prior to foreclosing. Don't pursue if the bank is foreclosing. That's a waste of time and money. Just make sure you have a lien or in some cases a "Super lien" on that property.
If there are NO foreclosure process going on and the lien has been attached for significant time, then it's an option worth using. The act of just pursuing a foreclosure can be enough to get some to take action. A FORECLOSURE STOPS AS SOON AS THE MONEY OWED IS PAID. A letter of intent to foreclose is usually the kick in the rear to get any action/reaction started. This is at the state you either get them to contact to make payment arrangements or prepare for battle. It's also a good state where there is not so much legal charges to add onto the amount owed. The HOA legal costs are usually limited to the previous lien filing fees and lawer drafting the intent to foreclose letter.
IF you do pursue a foreclosure, realize you are doing the work of the bank for the bank. They are going to get paid first no matter what. So make sure that property is worth it. It may be worth just to stop the bleeding than getting any monies back.
REMEBER: THE HOA DOES NOT WANT TO OWN THIS PROPERTY!!! I can NOT stress this enough that it is NOT a good deal for a HOA to get the house at the foreclosure. They are offered the first bid. However, it's a HUGE bad idea. The bid amount starts out at the amount the HOA is already out and foreclosing for. So winning the bid at that point means the HOA just doubled it's losses. The HOA would also need to maintain, pay mortgager, repair, and pay dues on this property. Can your HOA afford a house payment and repairs? It costs money to sell the property as well. Plus leaving it empty isn't good for the HOA's aesthetics.
Yes, a foreclosure is useful and worth pursuing. It really depends on the outcome your looking for. Basically, I would say if you want to stop the bleeding of your budget, then go for it.
Former HOA President
CarolF (Florida)
Posts: 435
Posts: 435
Posted:
Information from FL law firm re HOA's obligations. Paying the mortgage is not one of them.
Naples, Florida Condo Lawyer Goede & Adamczyk Home
Contact Fort Myers, Florida HOA Attorney Goede & Adamczyk
Condo/HOA FAQs
Collections/Foreclosures
Q: If my condo or HOA forecloses on its lien for unpaid assessments and takes title to a home, is the association responsible for the mortgage payments?
A: No. Only the homeowner/borrower is responsible for payments on the mortgage note. However, any first mortgage liens and tax liens are superior to the association’s lien and will remain as encumbrance(s) on title. Our Helpful Resources page features an article discussing the elimination of “abandoned” first mortgage liens, allowing your condo or HOA to potentially sell the unit at market value if it takes title to a home.
Q: What debts and other obligations will fall on the condo or homeowners association if it forecloses on its lien for unpaid assessments?
A: Like any unit owner, the association will be responsible for taxes, utilities, insurance and maintenance. The association should secure the unit or home and make sure the HVAC and other systems are functioning properly. It is not necessary to pay the real estate taxes because eventually the property could be sold at a tax sale, which results in a new owner taking over responsibility for condo or HOA assessments. Our Helpful Resources page features an article discussing the dilemma of condo/HOA lien foreclosure in the current bank foreclosure crisis.
Naples, Florida Condo Lawyer Goede & Adamczyk Home
Contact Fort Myers, Florida HOA Attorney Goede & Adamczyk
Condo/HOA FAQs
Collections/Foreclosures
Q: If my condo or HOA forecloses on its lien for unpaid assessments and takes title to a home, is the association responsible for the mortgage payments?
A: No. Only the homeowner/borrower is responsible for payments on the mortgage note. However, any first mortgage liens and tax liens are superior to the association’s lien and will remain as encumbrance(s) on title. Our Helpful Resources page features an article discussing the elimination of “abandoned” first mortgage liens, allowing your condo or HOA to potentially sell the unit at market value if it takes title to a home.
Q: What debts and other obligations will fall on the condo or homeowners association if it forecloses on its lien for unpaid assessments?
A: Like any unit owner, the association will be responsible for taxes, utilities, insurance and maintenance. The association should secure the unit or home and make sure the HVAC and other systems are functioning properly. It is not necessary to pay the real estate taxes because eventually the property could be sold at a tax sale, which results in a new owner taking over responsibility for condo or HOA assessments. Our Helpful Resources page features an article discussing the dilemma of condo/HOA lien foreclosure in the current bank foreclosure crisis.
HoaC (Florida)
Posts: 95
Posts: 95
Posted:
Melissa is straight on target with here assessment. We are beginning foreclosurs on some properties we have had liens on for several years and owe a substantial amount of money.
I have said this a few times, but our software generates the intent to foreclose letters at no additional cost to us, other than mailing them first class and certified mail. And usually they respond and want to make payments. Of the seven letters we sent out 12 days ago, 4 have already paid up. We know one or two intend to take it to court.
MelissaP1 stated "REMEBER: THE HOA DOES NOT WANT TO OWN THIS PROPERTY!!! I can NOT stress this enough that it is NOT a good deal for a HOA to get the house at the foreclosure."
I agree with this assessment. Ownership of the property is not a good idea.
Except, in one case we have, the lot is empty. If the lot has a home and there are no mortgages on it, then that is a good idea to own. Providing the HOA intends to sell it or "flip" it to generate additional income for the association.
Those 2 scenarios are the only two that I think it is worth taking ownership / title.
We have foreclosed before and we will foreclose again. It also sends a loud message to the other owners that your HOA is prepared to collect the monies due. Since we began applying liens and foreclosing, our dues collection has staedily increased. And the fact the software allows payments to be made over a course of a year has eased the burdens of the annual billing cycle.
I have said this a few times, but our software generates the intent to foreclose letters at no additional cost to us, other than mailing them first class and certified mail. And usually they respond and want to make payments. Of the seven letters we sent out 12 days ago, 4 have already paid up. We know one or two intend to take it to court.
MelissaP1 stated "REMEBER: THE HOA DOES NOT WANT TO OWN THIS PROPERTY!!! I can NOT stress this enough that it is NOT a good deal for a HOA to get the house at the foreclosure."
I agree with this assessment. Ownership of the property is not a good idea.
Except, in one case we have, the lot is empty. If the lot has a home and there are no mortgages on it, then that is a good idea to own. Providing the HOA intends to sell it or "flip" it to generate additional income for the association.
Those 2 scenarios are the only two that I think it is worth taking ownership / title.
We have foreclosed before and we will foreclose again. It also sends a loud message to the other owners that your HOA is prepared to collect the monies due. Since we began applying liens and foreclosing, our dues collection has staedily increased. And the fact the software allows payments to be made over a course of a year has eased the burdens of the annual billing cycle.
FrankM7 (Pennsylvania)
Posts: 61
Posts: 61
Posted:
The problem with foreclosures as I see it in the future is that they will turn into rental properties under Bernanke's plan to get them off of the market. Along with that, I personally suspect past dues, taxes, and mortgage payments will be excused as the plan moves forward to rent with probable subsidized rents or low rents as banks and Freddie/Fannie eat the difference.
It looks like the plan will put the rental units with rental companies to fill empty houses and condos. It could lower adjacent property values, but it may allow for a superficial or temporary increase in the stock market. Who will profit from this ... the rental companies. Who will lose ... everyone else.
It looks like the plan will put the rental units with rental companies to fill empty houses and condos. It could lower adjacent property values, but it may allow for a superficial or temporary increase in the stock market. Who will profit from this ... the rental companies. Who will lose ... everyone else.
SteveM9 (Massachusetts)
Posts: 3,699
Posts: 3,699
Posted:
Quote:
The problem with foreclosures as I see it in the future is that they will turn into rental properties under Bernanke's plan to get them off of the market.
I doubt it. Most foreclosures are not anywhere near rentable.
FrankM7 (Pennsylvania)
Posts: 61
Posts: 61
Posted:
Here is a portion of a Wall Street Journal article about Bernanke's plan ..........
http://online.wsj.com/article/SB10001424053111904233404576458300001332210.html
"Renting out homes could cover the costs of holding the properties until they can be resold once markets stabilize, potentially turning a profit for mortgage titans Fannie Mae and Freddie Mac or the Department of Housing and Urban Development, which handles foreclosures on loans backed by the Federal Housing Administration.
But scattered-site rental programs could require the government to become a national landlord, an area where the mortgage firms have little experience. They also pose accounting challenges that could produce big upfront losses.
One proposal winning support among some federal officials would sell thousands of foreclosed federal properties to private investors who agree to rent them.
Investors would rehab homes, run the leasing process, and contract with national property management firms to handle day-to-day tenant demands.
The government could keep a stake in the venture, modeled on loss-share transactions by the Federal Deposit Insurance Corp. Officials have received interest from around a half-dozen private investors, according to people familiar with the matter.
HUD owned about 69,000 homes at the end of April and sold 11,000 homes in that month. Fannie and Freddie held another 218,000 at the end of March."
http://online.wsj.com/article/SB10001424053111904233404576458300001332210.html
"Renting out homes could cover the costs of holding the properties until they can be resold once markets stabilize, potentially turning a profit for mortgage titans Fannie Mae and Freddie Mac or the Department of Housing and Urban Development, which handles foreclosures on loans backed by the Federal Housing Administration.
But scattered-site rental programs could require the government to become a national landlord, an area where the mortgage firms have little experience. They also pose accounting challenges that could produce big upfront losses.
One proposal winning support among some federal officials would sell thousands of foreclosed federal properties to private investors who agree to rent them.
Investors would rehab homes, run the leasing process, and contract with national property management firms to handle day-to-day tenant demands.
The government could keep a stake in the venture, modeled on loss-share transactions by the Federal Deposit Insurance Corp. Officials have received interest from around a half-dozen private investors, according to people familiar with the matter.
HUD owned about 69,000 homes at the end of April and sold 11,000 homes in that month. Fannie and Freddie held another 218,000 at the end of March."
SherryG1 (Montana)
Posts: 7
Posts: 7
Posted:
I'm a member of a RV Condominium park in Montana. This park is a older park composed of mobile home lots and RV/park model lots. The HOA board is volunteer. We have several owners who have not paid their HOA dues and special assessments for 3 or more years. We do file liens each year for the property. One property has a mobile home and the other 2 lots are vacant RV lots.
We would like to understand what steps we can take to collect our dues/assessments.
Of course, being a small HOA, some are concerned about the costs involved in taking legal action. So, I'm trying to gather information on the process and report back to the membership. Several President's have spent money going to an attorney but never reporting back with a definitive answer. I think it could be those President's were opposed to spending money for legal services on this process.
I've researched the topic but could only find that Montana does allow judicial and non-judicial settlement process.
Thanks for your feedback.
We would like to understand what steps we can take to collect our dues/assessments.
Of course, being a small HOA, some are concerned about the costs involved in taking legal action. So, I'm trying to gather information on the process and report back to the membership. Several President's have spent money going to an attorney but never reporting back with a definitive answer. I think it could be those President's were opposed to spending money for legal services on this process.
I've researched the topic but could only find that Montana does allow judicial and non-judicial settlement process.
Thanks for your feedback.
SteveM9 (Massachusetts)
Posts: 3,699
Posts: 3,699
Posted:
I understand the "plan" but I dont see how it could work. I visit foreclosures all the time. Most foreclosures have been neglected for years. Leaking roofs, basements with 3 feet water, no copper pipes, no wiring, mold everywhere including behind the walls. Investors wont even touch most of these foreclosures and the gov want to fix them and rent them? LOL. On the other side, many towns have high rates of foreclosures because everyone has moved away because there are no jobs. Hard to pay any rent without a job.
The market isn't coming "back". It was a bubble, you cant re-create a bubble. Just like Japan, we will have 20 or more years of slowly falling real estate prices.
The market isn't coming "back". It was a bubble, you cant re-create a bubble. Just like Japan, we will have 20 or more years of slowly falling real estate prices.
HoaC (Florida)
Posts: 95
Posts: 95
Posted:
Here is some interesting reading.
http://www.usreoproperties.com/blog/strategy-reverse-foreclosure-popularity-florida/
http://www.usreoproperties.com/blog/strategy-reverse-foreclosure-popularity-florida/
JM16 (North Carolina)
Posts: 24
Posts: 24
Posted:
Quote:
Posted By SteveM9 on 07/25/2011 8:50 AM
I understand the "plan" but I dont see how it could work. I visit foreclosures all the time. Most foreclosures have been neglected for years. Leaking roofs, basements with 3 feet water, no copper pipes, no wiring, mold everywhere including behind the walls. Investors wont even touch most of these foreclosures and the gov want to fix them and rent them? LOL. On the other side, many towns have high rates of foreclosures because everyone has moved away because there are no jobs. Hard to pay any rent without a job.
The market isn't coming "back". It was a bubble, you cant re-create a bubble. Just like Japan, we will have 20 or more years of slowly falling real estate prices.
I understand the "plan" but I dont see how it could work. I visit foreclosures all the time. Most foreclosures have been neglected for years. Leaking roofs, basements with 3 feet water, no copper pipes, no wiring, mold everywhere including behind the walls. Investors wont even touch most of these foreclosures and the gov want to fix them and rent them? LOL. On the other side, many towns have high rates of foreclosures because everyone has moved away because there are no jobs. Hard to pay any rent without a job.
The market isn't coming "back". It was a bubble, you cant re-create a bubble. Just like Japan, we will have 20 or more years of slowly falling real estate prices.
Came across this while doing some research on foreclosures... had to laugh. Amazing what 5 years can do to to a market.
KerryL1 (California)
Posts: 14,550
Posts: 14,550
Posted:
Looks like we're starting our first-ever foreclosure. Our collections attorneys have researched the records of this condo, and the owner, who lives in it pays his mortgage and his taxes. It's us he hasn't paid in a long time. We agree to payment plan, he pays this (reduced dues) for a few months, and then goes delinquent again. His condo is worth far more than his mortgage balance. I can see his balcony & part of his living room from my condo and it seems to be in good condition.
It kind of baffles me why he doesn't sell as he'll have about $300,000 cash even after he pays off his mortgage an his back dues.
It kind of baffles me why he doesn't sell as he'll have about $300,000 cash even after he pays off his mortgage an his back dues.
RichardP13 (California)
Posts: 3,868
Posts: 3,868
Posted:
Quote:
Posted By KerryL1 on 10/07/2016 7:24 PM
Looks like we're starting our first-ever foreclosure. Our collections attorneys have researched the records of this condo, and the owner, who lives in it pays his mortgage and his taxes. It's us he hasn't paid in a long time. We agree to payment plan, he pays this (reduced dues) for a few months, and then goes delinquent again. His condo is worth far more than his mortgage balance. I can see his balcony & part of his living room from my condo and it seems to be in good condition.
It kind of baffles me why he doesn't sell as he'll have about $300,000 cash even after he pays off his mortgage an his back dues.
Looks like we're starting our first-ever foreclosure. Our collections attorneys have researched the records of this condo, and the owner, who lives in it pays his mortgage and his taxes. It's us he hasn't paid in a long time. We agree to payment plan, he pays this (reduced dues) for a few months, and then goes delinquent again. His condo is worth far more than his mortgage balance. I can see his balcony & part of his living room from my condo and it seems to be in good condition.
It kind of baffles me why he doesn't sell as he'll have about $300,000 cash even after he pays off his mortgage an his back dues.
WOW!!!
Have any idea what the process is going forward. How do you throw someone out of their unit who is current on their mortgage.
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
Our foreclosure was similar. The person wasn't paying HOA dues but their mortgage situation was okay. Matter of fact, they were telling their renter that they were in a "Rent to own" situation. Just to find out that what the owner had done was open up a 2nd mortgage on the house and was basically having the renter paying that off for them. Which means that the owner could have pulled the sale and never given them the first title to the home. Which from I understand may have been their plan as they were sued by the renter who won. I had to testify on the HOA's behalf because we did the foreclosing. The owner at one point had tried to make the renter pay the back dues so they would not lose the home... A BIG mess.
It is best for a HOA to foreclose on a lien when there is no money owed the bank. It is NOT if there is a bank foreclosure going on. If there is a bank foreclosure, then the HOA is doing the work of the bank. That is because the bank gets paid first and foremost. Now if there is no money owed to the bank just the HOA, then the HOA most likely has a better chance of getting their money back. The bank isn't owed anything.
Expect a back lash from the owner from trying to foreclose for owed dues. However, all they have to do to stop the foreclosure is to pay their dues/money owed. It stops then and there. Not a hard concept to understand....
It is best for a HOA to foreclose on a lien when there is no money owed the bank. It is NOT if there is a bank foreclosure going on. If there is a bank foreclosure, then the HOA is doing the work of the bank. That is because the bank gets paid first and foremost. Now if there is no money owed to the bank just the HOA, then the HOA most likely has a better chance of getting their money back. The bank isn't owed anything.
Expect a back lash from the owner from trying to foreclose for owed dues. However, all they have to do to stop the foreclosure is to pay their dues/money owed. It stops then and there. Not a hard concept to understand....
Former HOA President
RichardP13 (California)
Posts: 3,868
Posts: 3,868
Posted:
Quote:
Posted By MelissaP1 on 10/07/2016 9:23 PM
Our foreclosure was similar. The person wasn't paying HOA dues but their mortgage situation was okay. Matter of fact, they were telling their renter that they were in a "Rent to own" situation. Just to find out that what the owner had done was open up a 2nd mortgage on the house and was basically having the renter paying that off for them. Which means that the owner could have pulled the sale and never given them the first title to the home. Which from I understand may have been their plan as they were sued by the renter who won. I had to testify on the HOA's behalf because we did the foreclosing. The owner at one point had tried to make the renter pay the back dues so they would not lose the home... A BIG mess.
It is best for a HOA to foreclose on a lien when there is no money owed the bank. It is NOT if there is a bank foreclosure going on. If there is a bank foreclosure, then the HOA is doing the work of the bank. That is because the bank gets paid first and foremost. Now if there is no money owed to the bank just the HOA, then the HOA most likely has a better chance of getting their money back. The bank isn't owed anything.
Expect a back lash from the owner from trying to foreclose for owed dues. However, all they have to do to stop the foreclosure is to pay their dues/money owed. It stops then and there. Not a hard concept to understand....
Our foreclosure was similar. The person wasn't paying HOA dues but their mortgage situation was okay. Matter of fact, they were telling their renter that they were in a "Rent to own" situation. Just to find out that what the owner had done was open up a 2nd mortgage on the house and was basically having the renter paying that off for them. Which means that the owner could have pulled the sale and never given them the first title to the home. Which from I understand may have been their plan as they were sued by the renter who won. I had to testify on the HOA's behalf because we did the foreclosing. The owner at one point had tried to make the renter pay the back dues so they would not lose the home... A BIG mess.
It is best for a HOA to foreclose on a lien when there is no money owed the bank. It is NOT if there is a bank foreclosure going on. If there is a bank foreclosure, then the HOA is doing the work of the bank. That is because the bank gets paid first and foremost. Now if there is no money owed to the bank just the HOA, then the HOA most likely has a better chance of getting their money back. The bank isn't owed anything.
Expect a back lash from the owner from trying to foreclose for owed dues. However, all they have to do to stop the foreclosure is to pay their dues/money owed. It stops then and there. Not a hard concept to understand....
Excuse, there is NO renter involved here!
RichardP13 (California)
Posts: 3,868
Posts: 3,868
Posted:
Here is the consequence of the HOA foreclosing. The HOA doesn't own the property, they just are at the top of the title list. Once they foreclose, the HOA then becomes liable for the dues, not the owner. If your dues are $1000.00 per month, has the HOA budgeted that, because they and the Board owe that to the Association. Technically, the owners can then foreclose on the HOA.
If the mortgage wasn't being paid and the unit was under water, it makes sense, but this is not a good strategy. I have been done that road and it is not pretty.
If the mortgage wasn't being paid and the unit was under water, it makes sense, but this is not a good strategy. I have been done that road and it is not pretty.
TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
However, the HOA could rent the property to cover the cost of the assessments owed (until the bank forecloses).
RichardP13 (California)
Posts: 3,868
Posts: 3,868
Posted:
Quote:
Posted By TimB4 on 10/08/2016 7:10 AM
However, the HOA could rent the property to cover the cost of the assessments owed (until the bank forecloses).
However, the HOA could rent the property to cover the cost of the assessments owed (until the bank forecloses).
Any idea how long it could take to get the owners out? This works if the owner is behind on their mortgage and the property is under water.
TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
My understanding (based on VA statutes) is 3 to 6 months depending on court dockets.
TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
According to this guide, the process in CA is quicker and may take 1 to 2 months.
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
Excuse Richard. I was using MY own experience. In our case there was a renter. Done.
Former HOA President
RichardP13 (California)
Posts: 3,868
Posts: 3,868
Posted:
Tim,
This is California and unfortunately things don't work like they once did.
My next door neighbor (not in an HOA) was trying to sell his house which he was using as a rental. Took two years to finally evict his tenants. Yesterday, I filed a small claim suit for one of my associations who has someone behind on their dues. Earliest court date, April 2017.
If you look hard at what Kerry's association is doing under the current circumstances and with what was posted, this is a no win for the association. They have a lien and there is equity. The association WILL get paid.
I would be the first to foreclose, IF it were under the ideal conditions. I have seen first hand how terribly bad it can go when they go down that path and have no experience.
This is California and unfortunately things don't work like they once did.
My next door neighbor (not in an HOA) was trying to sell his house which he was using as a rental. Took two years to finally evict his tenants. Yesterday, I filed a small claim suit for one of my associations who has someone behind on their dues. Earliest court date, April 2017.
If you look hard at what Kerry's association is doing under the current circumstances and with what was posted, this is a no win for the association. They have a lien and there is equity. The association WILL get paid.
I would be the first to foreclose, IF it were under the ideal conditions. I have seen first hand how terribly bad it can go when they go down that path and have no experience.
TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
Taking from what the reactivation post to this thread said:
It's amazing what 5 years can do
It's amazing what 5 years can do
KerryL1 (California)
Posts: 14,550
Posts: 14,550
Posted:
I admit to not understanding the whole scenario as it's new to all of us; our Board will await options & advice from our collections attorneys.
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