CA law

Started by JackieB • 8 replies • 1227 views

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JackieB
Posts: 196

Posted:

If a home(that HOA has liened) is up for sale and also might be
entering into foreclosure, in CA who gets paid first when money
becomes available through some sort of sale? Mortgage or liens?

MikeS1
Posts: 658

Posted:

Not real sure, but I have a feeling that it's.. actually neither (IMO)....IRS or Feds first, then First Trust, Second Trust, then maybe HOA lien. If the homeowner is upsidedown in the home, I'm not sure sure that the HOA lien might not be satified. Any other ideas on this.

MikeS1
Posts: 658

Posted:

Forgot to mention Municipal Liens (County/City Taxes) also vs HOA liens.

JackieB
Posts: 196

Posted:

I guess you could sum it up as being very low on the food chain.
Seems a shame........but thanks.
Jackie

MikeS1
Posts: 658

Posted:

That's my impression, lol, but I would like for someone else to weigh in on this issue, as well.

LarryM3
Posts: 37

Posted:

JackieB
In California certain things have to be done. After the lien it must be perfected with a lawsuit. After the lawsuit has been done there needs to be a court ourt for judgement and payment. If that doesn't do it you have to go back to court and request a sale for judgement. THEN The mortage holder for the first gets paid and the rest of the creditors get in line to recieve the sale judgement.
With that being said, you need to get a lawyer involved to perfect the lien and the judgement.
I hope this has helped.
Larry

JackieB1
Posts: 7

Posted:

Good info.......and thanks.

HaroldS
Posts: 902

Posted:

In other words, a lawyer's full employment act. Wonder who writes those laws? Harold

JackieB
Posts: 196

Posted:

I have to admit I thought "would it be worth a $2000 lien?"

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