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Re: HOA Auction - Who Takes Possession?In Reply to: Re: HOA Auction - Who Takes Possession? posted by Jim V on September 15, 2003 at 10:03 AM
: : : : Owner is current on the mortgage but defaulted on HOA and taxes. HOA has filed NOD and a trustee auction has been scheduled. Will the lender take possession and HOA lose : : : If I'm understanding you correctly, the HOA has a scheduled sale. If there's no third party bidder, the HOA becomes the owner after sale. The first remains in place. That's CA specific, other states have different rules. : : Yes, you understood correctly and it is CA. : Two things to also keep in mind: Item (1) makes sense. Bear in mind the owner is also behind in property taxes.
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