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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Certificate of Sale Redemption? California Posted by Guy on April 10, 2008 at 8:27 AM It appears that HOAs are becoming more aggressive on foreclosing on delinquent assessments. This could be due to pressure from board members as the raise in foreclosures are whipping delinquent assessments off the property's title. California Civil Code Section 1367.4(c)(4) allows for a 90-day redemption period, but remains vague on the actual redemption process and who is responsible to facilitate this process. The trustee I spoke with claimed submitting of a "Letter of Intent to Redeem" would go to the trustee, but the new titleholder would need to provide information normally supplied by the bene and is responsible to facilitate the redemption. The trustee was responsible for the sale, but not the redemption. Seems like a conflict of interest for a third party purchaser. Does this mean after a third party buys a HOA lien at sale, they could go "deep six" until after the redemption period expires and then gain property possession? Hiding for 90 days wouldn’t float, but 2 – 3 weeks could reduce the redemption period significantly. Can anyone provide links containing clarifying data? Thanks for illuminating a shady area. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : It appears that HOAs are becoming more aggressive on foreclosing on delinquent assessments. This could be due to pressure from board members as the raise in foreclosures are whipping delinquent assessments off the property's title. California Civil Code Section 1367.4(c)(4) allows for a 90-day redemption period, but remains vague on the actual redemption process and who is responsible to facilitate this process. The trustee I spoke with claimed submitting of a "Letter of Intent to Redeem" would go to the trustee, but the new titleholder would need to provide information normally supplied by the bene and is responsible to facilitate the redemption. The trustee was responsible for the sale, but not the redemption. Seems like a conflict of interest for a third party purchaser. Does this mean after a third party buys a HOA lien at sale, they could go "deep six" until after the redemption period expires and then gain property possession? Hiding for 90 days wouldn’t float, but 2 – 3 weeks could reduce the redemption period significantly. : Can anyone provide links containing clarifying data? : Thanks for illuminating a shady area. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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