DennisB14
Posts: 7
Posts: 7
Posted:
hi I just received a foreclosure notice of boards decision to foreclose from 1/20/2015 dated 5/18/2015 today by man at my door they lien my property any sugestions
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foreclosure notice
Started by DennisB14 • 9 replies • 1516 views
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SteveM9
Posts: 3,688
Posts: 3,688
Posted:
Typically its from a non-payment of dues. Yes, they can foreclose and yes, a court will award them the deed, still leaving you with mortgage payments. Next, the bank will foreclose on the HOA because you will stop paying for the house and your credit will be destroyed.
My advice, find out what you owe, pay it. If it goes to court, it will likely cost you an additional $7,000 in legal fees to the HOA lawyer save your home. Not including your own lawyer fees.
My advice, find out what you owe, pay it. If it goes to court, it will likely cost you an additional $7,000 in legal fees to the HOA lawyer save your home. Not including your own lawyer fees.
AnnH5
Posts: 304
Posts: 304
Posted:
Also, see if the Board will accept a payment plan. You are on the hook for the due, possibly late fees, possibly interest, and the Boards attorney fees as well as any costs associated with court filings. If you have a cooperative Board, they might be willing to work with you. No reasonable Board wants to foreclose on a home if it can be avoided.
DennisB14
Posts: 7
Posts: 7
Posted:
Do you now how long I have notice dated 5/18/2015
AllisonD
Posts: 449
Posts: 449
Posted:
Usually you have about 20 days to submit and answer to the complaint (can vary by state) so time is of the essence.
DennisB14
Posts: 7
Posts: 7
Posted:
It is a letter and not a complaint making 200 dollars a month paymint miss my last payment in April
DennisB14
Posts: 7
Posts: 7
Posted:
He just delivered a letter notice of boards decision and says to contact the assessment service to obtain needed this is not a complaint right confused thank you everyone
GlenL
Posts: 5,429
Posts: 5,429
Posted:
Dennis CA has some strict laws regarding when a HOA can foreclose unless you are a serving service member, then you have some extra leeway.
Associations are allowed to record a lien but may not foreclose until the delinquent assessment is at least $1,800 or the delinquency is at least twelve months old. (Civ. Code §5720(b)(2).)
My advice is to pay your assessments which as someone else stated you may be able to work out a payment plan. Otherwise start looking for new digs.
Associations are allowed to record a lien but may not foreclose until the delinquent assessment is at least $1,800 or the delinquency is at least twelve months old. (Civ. Code §5720(b)(2).)
My advice is to pay your assessments which as someone else stated you may be able to work out a payment plan. Otherwise start looking for new digs.
DennisB14
Posts: 7
Posts: 7
Posted:
Thank you I will be calling them am tommorow and try to work with then what is the differ between letter and a complaint does anyone know
DennisB14
Posts: 7
Posts: 7
Posted:
What is tne difference between a letter and a complaint my wife wants to know
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