![]() |
Foreclosure Forum |
|
Payment of junior HOA lien after trustee's sale...In Reply to: HOA lien after trustee sale BLACKMAIL ! posted by Ray on January 08, 2004 at 9:21 PM : I purchased a condo in Nevada at a trustee sale Dec 18 that was foreclosed on by the first mortgage holder. The condo sold for the minimum opening bid, I was aware of a junior lien by the HOA when I bought it. : : They won't release the lien unless I pay so I can't sell it! Am I liable to pay the collection agency's fees?? : THANK YOU!!!!!!!!!!! Ray, In May of 2000 there was an appellate case here in CA (Thaler vs Household Finance) that determined that the priority of an HOA lien was established by the date it was actually recorded, and not by the date when the controlling CC& R’s were recorded for the particular condo project. Since that case, it seems that the most successful strategy here in CA is to pay the obdurate, junior HOA lienholder in order to sell the condo and close escrow. Then after escrow has successfully closed, sue the HOA in small claims court for the money they unlawfully extracted from you! Works here like a charm. In fact, most HOA’s will refund the payment to you upon you’re filing of the small claims action. They cave in before you have to go to trial. Hope this helps.
Follow Ups:
Post a Followup:
|
Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.
Copyright © 1997-2004, InnoVest Resource Management
http://www.foreclosureforum.com
InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455