What to do after HOA Foreclosure Sale

Submitted by Stephenie from CA - 04/25/2011 - 11:27am

Recently I have noticed a HOA sale in CA. The property's FMV is around $500,000. It has first loan at $260,000 back in 2008. In May 2010, the owner failed to pay its HOA and then the trustee initiated an HOA sale at around $6,000. I know that the winner of the sale will be responsible for the senior loan which is $260,000. However, my question is if I win the HOA auction, what would be the next step to get a clean title? Can I evict the current owner first and then negotiate with the lender for paying off the $260,000 loan? I appreciate your advices. Thanks. --S.L.

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Submitted by shakia Andrews - 01/16/2012 - 1:54am

Please visit our website and call me at 866-607-0318 ext. 2032. Or E-mail me ASAP. We can definately stop your sale and lower your payments on a low fee. We have a group of mortgage underwriters and mitigators that will assist you and contact your lender, by represention, to get you a lower rate, and restructure your loan.
www.mymembership.org
If the home was already sold, We can preform a reversal of the sale for $2500 and keep you in the home without making a payment for up to 2 years

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