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Recorded HOA Trustee's Deed Wiped Out???

November 17, 2011 08:49AM
Hey All,

In my nine years as a buyer at Trustee Sales, I have avoided purchasing a foreclosing first position mortgage if there is a RECORDED Trustee's Deed for an HOA because I have yet to understand why the HOA would go through this process if they would, in effect, be eliminated by the foreclosure of a primary lienholder at a later date.

We all see concurrent NOD's and NTS's for primary liens and HOA's all the time, right? In most cases, the HOA never forecloses ahead of the primary lienholders. However, when an HOA does foreclose ahead of a concurrent primary lienholder's pending foreclosure, I am guessing that they rarely do anything to bring the primary lienholder current and take ownership of the property.....??

So, what does the HOA have to gain by foreclosing AND RECORDING a Trustee's Deed? My fear has always been that they are doing this for a reason and that the reason may be hidden in some obscure law which gives them the right to collect on their foreclosed deficiency, even though it is technically subordinate to the soon to foreclose, primary lienholder.....??

Looking forward to some savy insight....!!

Thx....!
Subject Author Views Posted

Recorded HOA Trustee's Deed Wiped Out???

Silverblue59 5369 November 17, 2011 08:49AM

You should have posted this 9 years ago...

Ward-CA 3340 November 17, 2011 02:49PM

Re: You should have posted this 9 years ago...

Silverblue59 3251 November 17, 2011 09:27PM

HOA SuperLien States.

Lady Jane 8989 November 20, 2011 07:57PM

Priority of HOA liens in CA was changed in 05/00..

Ward-CA 7569 November 22, 2011 01:45PM



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