Liens/Collections after Sherrif's sale

Our HOA has turned our delinquent accounts over to an attorney to initiate our collection policy, which involves a series of warnings, wait periods, and eventually Liens and possibly foreclosure (although we hope to never come to that point). Previously, under advice from our old MC, we stopped all legal action upon receipt of an impending foreclosure/sheriffs' sale.

This year, under a new MC, we have a couple houses that have just this month been sold at sheriff's sale and are in their redemption period. Our new MC is recommending that we continue our collection process at least through the lien stage. Since we are dealing with the banks now, I would predict that we would most likely recover the legal costs when the bank fire sales the home, but wonder if these added fees/costs are really necessary to protect our interest at this point.

What is your community's policy for collection during a redemption period? FYI -- we are single family detached homes, zoned site condo.

My HOA is currently going through the same thing and a foreclosure or Trustee Sale offers you no guarantee that you will be paid, lien or no lien. If the debt on the property is greater than the sold price, obviously there are no funds left for the HOA. You may have to file a judgment on the delinquent member. Get a good legal opinion on this and futher more, if an owner decides to walk away from the property and move out, you will still be left holding the bag until the property is foreclosed and I am told the banks are in no particular hurry to do this, expecially if there are associated costs to the bank once they do take ownership. Costs such as transfer fees, impending special assessments and the monthly fees! This is proving to be a very slippery slope!