foreclosures

We have numerous owners that owe our HOA thousands of dollars. The lawyer charges $1200.00-$1400.00 per foreclosure. We will have to do a "special assessment" to raise the money to do some foreclosures. If lucky we might recover the cost of the foreclosure. How are you dealing with the delinquent homeowners?
Barbara

How much do you pay for a foreclosure?
Barbara

Barbara,

I just had another thought. An hoa can foreclose for unpaid assessments but nothing else if it is homestead property. We've had a case where the association made repairs to the exterior of a property for about $6,000 and thought they could foreclose for this amount plus about $1400 in legal fees...NOT so we are left with a maningless final judgment. Make certain you are suing for back assessments before you spend big bucks on attorny fees.

Barbara,

I'm sure the Bar would frown on using a paralegal without her/him being employed by an attorney. Unless you have a friend who has done foreclosures and is willing to do it for free I'm afraid you are out of luck. You could, however, call several attorneys and request their fee for a foreclosue but make sure their fee includes everything. Another route you could take is to go to the courthouse and follow a similar foreclosure. It would entail a property search by a title company, checking to see if the property is homestead, checking to see what mortgage company or companies have a prior lien position, and how much equity the owner has in the property. It involves quite a lot so I wouldn't suggest this. I would recommend shopping around for an attorney and then checking out their reputation. Sorry I couldn't be of more help. If you have a GOOD attorney and there is enough money left you should be able to recoup your legal expenses.