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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] HOA foreclosure problems.. Posted by Ward-CA- on June 10, 2003 at 8:06 PM In Reply to: Non-judicial foreclosures by HOAs posted by Daren, CA on June 10, 2003 at 4:04 PM : Ward, : Thanks for all of your great comments. Best foreclosure information I've found yet! I am interested in pursuing a property that is about to go to Trustee sale in CA (2 days). The sale is non-judicial and the foreclosing beneficiary is an HOA. I've noticed from prior posts that there may be a problem with acquiring title insurance for up to a year after the trustee sale with non-judicial HOA foreclosures. How much of a problem is it (I assume selling would be difficult without title insurance)? Are there title companies that will work with this situation? If I decide to keep the property for a year can I just pay on (or assume)the current 1st TD? : Thanks for your help, : Daren =•=•=•=•=•=•=•=•=•=•= Daren, See if you can find out the title company that issued the TSG (trustee’s sale guaranty). Contact them and ask if they will issue a title policy without the one year wait since they issued the TSG and are involved with the property already. This approach has worked for several of my graduates. There’s no automatice loan assumption extended to an owner-by foreclosure. You’d have to qualify financially and pay an assumption fee. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Thanks for all of your great comments. Best foreclosure information I've found yet! I am interested in pursuing a property that is about to go to Trustee sale in CA (2 days). The sale is non-judicial and the foreclosing beneficiary is an HOA. I've noticed from prior posts that there may be a problem with acquiring title insurance for up to a year after the trustee sale with non-judicial HOA foreclosures. How much of a problem is it (I assume selling would be difficult without title insurance)? Are there title companies that will work with this situation? If I decide to keep the property for a year can I just pay on (or assume)the current 1st TD? : : Thanks for your help, : : Daren : =•=•=•=•=•=•=•=•=•=•= : Daren, : See if you can find out the title company that issued the TSG (trustee’s sale guaranty). Contact them and ask if they will issue a title policy without the one year wait since they issued the TSG and are involved with the property already. : This approach has worked for several of my graduates. : There’s no automatice loan assumption extended to an owner-by foreclosure. You’d have to qualify financially and pay an assumption fee. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ 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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