HOA foreclosing

Question for this illustrious group:

Can a Homeowners Association, with a lien against the property for unpaid HOA dues, in third position, foreclose on a property that's $200,000 under water? The HOA doesn't have the money to pay off the 1st and 2nd.

If yes, how exactly would that work and what are the consequences to the homeowner? As far as I know, California isn't a super lien state.

Thanks!



Edited 1 time(s). Last edit at 09/09/2015 07:36AM by CCinOC.