Quote:
Posted By KellyM3 on 09/20/2013 8:25 PM
Yes. Foreclosure occurs when the deed hits the courthouse steps at auction and is taken from the owner.
The HOA board needs to know this situation of pre-foreclosure situation as it's pointless from them to assess fines or issue threaten on a hugely distressed property. PLEASE communicate with your board or its property manager. The board will then only proceed out of stupidity or arrogance.
What I wanted to know is do they plan on keeping the house or are they living there until the bank or new buyer takes the house? If they are hoping to keep the house, they may want to react differently than if they are eventually leaving, in which case, they would probably let the fines stack up. I am surprised they are still paying their dues, so this is why I thought they may be trying to keep their house.