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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Interesting HOA Foreclosure Article Posted by Rick Harmon on March 06, 2004 at 7:57 AM In Reply to: Interesting HOA Forclosure Article posted by Nick on March 06, 2004 at 1:14 AM : http://www.sacbee.com/content/home/real_estate/story/8286686p-9217257c.html : Hi. Interesting HOA Forclosure Article. The HOA took non-judicial foreclosure action in this case and case is being battled in CA state court as unconstitutional. This couple lost their home over $120 in unpaid dues that snowballed. Ward, any advice on what happened here? Do you think some on the board are benefiting somehow? What else would explain their action? Something to watchout for if looking at HOA foreclosures nonetheless. Interesting, I've never seen anything like it. ============================= Nick- I happen to subcribe to the the Robert Bruss Calif R. E. Law Newsletter an have followed along this case. While these court cases are interesting, I feel that an investor can easiely be distracted by their appeal, diverting one's attention to the real issue: doing deals. It's unlikely that you're going to come across this situation in your pursuit of foreclosure purchases. If you do, you ought to already know how to tackle it. So, my point is to keep your eyes on the prize and leave the academics to the people who love to buy R E books, courses and tapes but can't seem to do any deals. I know about this trap because I've personally been in it. It's a lot more exciting to hear how some investor posts their experience with a deal that went weird, and much more pragmatic. Rick Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : http://www.sacbee.com/content/home/real_estate/story/8286686p-9217257c.html : : Hi. Interesting HOA Forclosure Article. The HOA took non-judicial foreclosure action in this case and case is being battled in CA state court as unconstitutional. This couple lost their home over $120 in unpaid dues that snowballed. Ward, any advice on what happened here? Do you think some on the board are benefiting somehow? What else would explain their action? Something to watchout for if looking at HOA foreclosures nonetheless. Interesting, I've never seen anything like it. : ============================= : Nick- : I happen to subcribe to the the Robert Bruss Calif R. E. Law Newsletter an have followed along this case. While these court cases are interesting, I feel that an investor can easiely be distracted by their appeal, diverting one's attention to the real issue: doing deals. : It's unlikely that you're going to come across this situation in your pursuit of foreclosure purchases. If you do, you ought to already know how to tackle it. So, my point is to keep your eyes on the prize and leave the academics to the people who love to buy R E books, courses and tapes but can't seem to do any deals. : I know about this trap because I've personally been in it. It's a lot more exciting to hear how some investor posts their experience with a deal that went weird, and much more pragmatic. : Rick 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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