bought at a hoa lien sale, withing the 90 day redemption period the next store neighbor's property burned down causing fire damage to mine, the foreclosed owner doesn't have fire insurance, since I will not have title until the 90 days is up, what are my options? http://www.foreclosureforum.com/board/read.php?2,1707,1707#msg-1707 Tue, 16 Jun 2026 20:26:01 -0700 Phorum 5.2.15a http://www.foreclosureforum.com/board/read.php?2,1707,1729#msg-1729 http://www.foreclosureforum.com/board/read.php?2,1707,1729#msg-1729
Even more amusing now that the 90 days has run and we have the trustee's deed is that according to two different title officers at two different title companies when we resell the new owner cannot get owners title insurance. I know we can't get title insurance on the trustee's deed, that's not what I'm talking about. And if we try to get a loan the new lender cannot get a lenders title policy. Unless, we get the foreclosed owner to sign a grant deed or do a quiet title action. Makes one wonder why there is a foreclosure at all if in the end the trustee sale buyer has to get a grant deed. This is absolutely nuts!! But true.]]> DaveSoCal Foreclosure Forum Fri, 06 Nov 2015 16:58:02 -0800 http://www.foreclosureforum.com/board/read.php?2,1707,1724#msg-1724 http://www.foreclosureforum.com/board/read.php?2,1707,1724#msg-1724
Dond]]> Dond Foreclosure Forum Fri, 23 Oct 2015 09:05:01 -0700 http://www.foreclosureforum.com/board/read.php?2,1707,1720#msg-1720 http://www.foreclosureforum.com/board/read.php?2,1707,1720#msg-1720 CCinOC Foreclosure Forum Thu, 15 Oct 2015 21:06:14 -0700 http://www.foreclosureforum.com/board/read.php?2,1707,1715#msg-1715 http://www.foreclosureforum.com/board/read.php?2,1707,1715#msg-1715
It turned out the previous owner vacated the condo when it had a water leak several months ago. The HOA was anxious to make forward progress on the condo, so they initiated a water claim with their insurance. The condo was 50% rehab'd when I acquired it at trustee sale. When I bought it, I met with the HOA manager, he said "no worries, your condo rehab will be completed by the insurance company within 2 weeks".. Sure enough, I had a buffed out condo in 2 weeks at zero cost to me. Flipped it, made fat cash.

No worries, be happy..........]]> Island Time Foreclosure Forum Wed, 30 Sep 2015 20:08:58 -0700 http://www.foreclosureforum.com/board/read.php?2,1707,1714#msg-1714 http://www.foreclosureforum.com/board/read.php?2,1707,1714#msg-1714
If the owner that owns the neighboring condo (the condo where the fire originated) had insurance, then that should cover your condo as his fire spread to your condo.

Either way, the HOA should have had a blanket fire policy that should cover the bulk of the damage.

No worries..........]]> Island Time Foreclosure Forum Wed, 30 Sep 2015 20:01:27 -0700 http://www.foreclosureforum.com/board/read.php?2,1707,1709#msg-1709 http://www.foreclosureforum.com/board/read.php?2,1707,1709#msg-1709
I'd say best you could hope for is that the lender will step up, pay off our lien and take back the property.


OR,,,,you may be stuck with a sub-2 fire damaged property.]]> Bill H Foreclosure Forum Fri, 25 Sep 2015 21:17:56 -0700 http://www.foreclosureforum.com/board/read.php?2,1707,1708#msg-1708 http://www.foreclosureforum.com/board/read.php?2,1707,1708#msg-1708 Trebor Foreclosure Forum Thu, 24 Sep 2015 08:25:03 -0700 http://www.foreclosureforum.com/board/read.php?2,1707,1707#msg-1707 http://www.foreclosureforum.com/board/read.php?2,1707,1707#msg-1707 bob Foreclosure Forum Wed, 23 Sep 2015 19:48:26 -0700