Foreclosure in Las Vegas>Question Details

leiannaj, Home Buyer in Henderson, NV

Can an HOA foreclose on your home if you are not delinquent on your first or second mortgage?

Asked by leiannaj, Henderson, NV Thu Oct 11, 2012

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16
Jeffrey Galindo’s answer
The short answer is yes they can.

It doesn’t really matter if you own the home or there is a lean holder – such as a mortgage company. It’s all about whether the HOA account is delinquent. Typically HOA’s don’t want the home, they just want to be paid the outstanding delinquencies, but foreclosure is one avenue they have for doing that. Keep in mind foreclosing on a property is a complicated and expensive proposition for an HOA, as such it’s usually their means of last resort.

Best recommendation is to speak to the HOA about the matter and see if it can be resolved amicably. If you cant, you may want to consult an attorney to help you determine your best alternatives.

Best of luck,

Jeff Galindo
Broker Salesman
The New Home Pros
Simply Vegas
0 votes Thank Flag Link Fri Oct 12, 2012
Yes you need to pay your HOA. Even if you are paying your mortgage they can foreclose if you are not paying your HOA dues.


Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes Thank Flag Link Wed Oct 17, 2012
Yes they can and do foreclose regardless of the other lien holders. In most cases, the hoa doesn't want your home, but there will be a line of investors ready to bid in the auction. These days it's typical for the hoa lien to be $5000 and have it bid up to $10k+ and sold at auction even if the other liens greatly exceed the value of the property.
0 votes Thank Flag Link Thu Oct 11, 2012
Leiannaj,
HOA can foreclose on your home if delinquent or assessed payments. Having a mortgage loan is not relavant.

You might want to contact your association and arrange payment plan or seek legal advise.

Good luck!

Rena Levy
Broker/Associate
Realty Executives
702-612-7099
cvegashomes@gmail.com
Web Reference: http://www.cvegashomes.com
0 votes Thank Flag Link Thu Oct 11, 2012
P.S. to the last post.
Your terms of the mortgage is that the HOA will be paid every month or you violate the terms of the loan.
Do not be surprised if the 1st mortgagee jumps in and pays the HOA and then starts foreclosure on the property. It is less messy for them if the HOA is cooperative and the amount is not very high.

In any event, if you do not pay the HOA, you will be moving.
0 votes Thank Flag Link Thu Oct 11, 2012
Yes. Period.
The HOA has a budget. That budget relies upon every homeowner paying they HOA fee on time. Those funds keep the community operating. Those funds pay for the pool, clubhouse, and common areas. The HOA has no choice but to foreclose and sell the property to recoup the funds owed to them. Some HOAs are renting the property to collect the rent until the 1st or 2nd foreclose on them as the HOA will not pay the mortgage. This allows the HOA to get some funds back. Meanwhile, the Borrower takes the heat for the foreclosure.

The other option is that the 1st mortgagee (Bank with loan) will step in to pay the HOA fees and commence the foreclosure of the property themselves.

In some states, there is a limit as to the total amount that the HOA can collect no matter how much is owed to them. In these states, the HOA is quick to foreclose to be under the state mandated amount. The HOA does not care who pays them. They just want to be paid

If you cannot pay the HOA bill, go to the board and get on the agenda to speak to them. I have not met a board that will not work with you to make payments current if you really want to and have the ability to do so.

There are organizations that are available to assist you in paying the HOA fees and/or the mortgage payments. That may free up some funds to assist you in getting the HOA fees paid.

Chat with your favorite Real Estate professional that has Certified Default Advocacy Training (CDAT). They can guide you in the path to keeping your property if it is possible.

If you have exhausted options and just cannot afford to pay the upkeep including the HOA fees. Work with your CDAT to make the transition selling the property with as little pain as possible.

New Web Sites:

http://www.SHORTSELL4FREE.INFO

Please contact me immediately if you know a person that cannot make their mortgage payments. I will work with them to avoid foreclosure or bankruptcy at no charge or fees to them.

Steven Goldman, CRS
Broker Salesman
Certified Distressed Property Expert (CDPE)
Certified Default Advocate (CDAT)
Certified Short Sale Professional (CSP)
Certified Probate Real Estate Specialist (CPRES)
REO-BPO Certified
GRI, ABR, SRES, CNHS, PM, CCI
Realty One Group
10750 W. Charleston #180
Las Vegas, NV 89135
Direct 702-242-1372
Fax: 866-286-2099
0 votes Thank Flag Link Thu Oct 11, 2012
Yes , your HOA can foreclose on you if you are delinquent with HOA payments . You don't have to be delinquent on your mortgage payments for the HOA to start foreclosure proceedings . There is however a procedure that must be followed , just like the banks . You will be notified during the process . If you don't work out an attangement he HOA can and more than likely will foreclose.
0 votes Thank Flag Link Thu Oct 11, 2012
Yes , your HOA can foreclose on you if you are delinquent with HOA payments . You don't have to be delinquent on your mortgage payments for the HOA to start foreclosure proceedings . There is however a procedure that must be followed , just like the banks . You will be notified during the process . If you don't work out an attangement he HOA can and more than likely will foreclose.
0 votes Thank Flag Link Thu Oct 11, 2012
Leiannaj
The HOA can foreclose if you are delinquent on any fees or assessments owed to the homeowners association even if you are current on your mortgage payments. I believe the HOA takes on the mortgage debt when they foreclose. The real cherry on top is Nevada is a super lien state and associations take top priority over everyone in the collection chain. In my opinion HOA's have too much power and we see the abuses against homeowners all too often. Keep those fees paid and any citations paid and cleared in writing.
Thank You
0 votes Thank Flag Link Thu Oct 11, 2012
They MOST DEFINITELY can!
0 votes Thank Flag Link Thu Oct 11, 2012
Yes they can foreclose !
0 votes Thank Flag Link Thu Oct 11, 2012
Yes, they can if you are delinquent on HOA fees. Being delinquent on first or 2nd mortgage is irrelevant. Maybe you can provide more specific information to provide you with more accurate. answer.


Regards,

Petra Reyes, Realtor®, SFR, ABR®
Realty One Group, Inc
1333 N Buffalo Dr, Suite 190
Las Vegas, NV 89128
Cell: 702-856-6356
E-fax: 702-946 5038
E-mail: petragreaterlv@gmail.com
http://petrainlv.las.mlxchange.com/
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0 votes Thank Flag Link Thu Oct 11, 2012
Yes - they have the power to foreclose if you default on making your HOA payments-
0 votes Thank Flag Link Thu Oct 11, 2012
Yes. They absolutely can. In the current market they are unlikely to go all the way to foreclosure because it is unlikely they can sell your home for enough to pay off your mortgages. Much more likely is that they will file a Notice of Default and/or put a lien on your property. These are items that *must* be cleared up before you can sell, and every month you let it go on the more expensive it will be.
0 votes Thank Flag Link Thu Oct 11, 2012
HOA SUPER PRIORITY LIENS is governed by NRS 116.3116. Paragraph 2 of said law says that HOA assessment lien is prior to all other liens. . Par 2(c) states that the HOA Liens are more prior that security interests described in par 2(b). For more info-- read NRS 116.3116


David Cooper Investor 702-499-7037
0 votes Thank Flag Link Thu Oct 11, 2012
Yes an HOA can foreclose on you. Even if you are not delinquent on your mortgages. NV is pro HOA, pay quickly or reach a settlement.

Thanks,

Nakia Woodson
Wardley Real Estate
702-318-1244
0 votes Thank Flag Link Thu Oct 11, 2012
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