Need clarification on lein on condo

Submitted by robs_41 from CA - 06/08/2009 - 4:19am

My condo has a lein, after june 26th the hoa can forclose. I understand i have 120 days before they can sell, but i have 90 more days after that to redeem.
 
Does this make sense, A reader posted this to my question and I just want to know if I am reading it right.
If they foreclose, that
If they foreclose, that process takes a minimum of 120 days. After that you still have 90 days to redeem the property (see CA Civil code 1367.4(c)(4)). If they do foreclose the loans from Countrywide would remain, unaffected, other than the fact that you no longer own the property (though you would still be responsible for the loans).

 

You are not watching this post, click to start watching

Comments

Submitted by Sean - 06/11/2009 - 8:57pm

Minimum of 120 days "to foreclosure" meaning from Notice of Default, until auction is held. Once it is held you only have 90 days to redeem.

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.

More information about formatting options

Before You Post

All comments should be relevant to the topic of the post and are subject to the terms found in our User Agreement.

Asking a Question

If you'd like to ask a new question, please start a new topic.

Please no SPAM.

We nofollow all links and promptly remove unsolicited advertisements - spamming here is a complete waste of your time, so don't bother. Vendors who actually answer questions and provide value to our forums may include links to their company or service as part of their signature.