Foreclosure in 48125>Question Details

prossimastaz…, Home Owner in 98374

Notice of Expiration of Redemption Period. I have until december 9th 2013 to pay and redeem property. Here is my situation

Asked by prossimastazione, 98374 Mon Nov 18, 2013

I have not payed a single dollar on my mortgage since 2009 banks stopped trying to foreclose on me about 2 years ago... i think the home was sold to so many banks in the secondary market that it got lost in the "system" So 1 year ago my home owners association sues my for non payment of $1,400 they retained a lawyer and fees went to $5,000 in april house went to auction and sold for an incredible $12,000 yes $12,000 with the current home value of $250,00. So i was giving a redemption period and it states i need to pay what the house sold for at auction ples fees total of $14,000 MY QUESTION IS: SINCE THE HOUSE SOLD AND AUCTION ON COURT STEPS IS I PAY THESE $14,000 TO REDEEM THE PROPERTY WILL I GET IT FREE AND CLEAR SINCE IT SOLD AT AUCTION OR WILL I REDEEM WITH ALL LOANS THAT WERE ASSOCIATED WITH IT BEFORE THE AUCTION? Well i hope i was able to explain correctly... THIS IS IN WASHINGTON STATE. thanks

Help the community by answering this question:


Let me ask you this -- so, you haven't paid for something in almost 4 years, have lived for free and expect to get it for that cheap?

You'll have to check with your local jurisdiction, but likely no -- you'll have to reinstate your current mortgage note plus the fees you've accrued in order to sell it. Someone else might be able to purchase it for an amount above the auction amount, but you don't have a lot of time to figure that out.

You will want to consult a local attorney to advise. But based on rules here in Michigan, I'd start packing if I were you.
0 votes Thank Flag Link Mon Nov 18, 2013
thanks. I guess thats where i'm confused as to why the home owners association would have more power than all the banks that are on the loan that haven't foreclosed on me and homee owners association (HOA) can foreclose on me for a couple of thousand. So if the house went to auction and the HOA bought it for $12,000 that means that they will keep it for that price but if I pay to redeem I will get it back with all the banks and loans on it even though the house already sold? thanks
Flag Mon Nov 18, 2013
This question got posted in a Michigan forum, if the property in questions is in Washington State you will want to speak with an attorney in your state. Each state has different foreclosure laws and redemption periods.

In Michigan if the Home Owners Association forecloses it doesn't "trump" the mortgage. So if you were to pay off that Home Owners Association foreclosure, that only brings that clear. You still have to make good on the mortgage or they will eventually foreclose also.

Margo Borkin's Office
Real Estate One
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6960 Orchard Lake #150 West Bloomfield, MI 48322 | 248-419-3133 | 248-419-0930 fax
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0 votes Thank Flag Link Mon Nov 18, 2013
Thank you.. didn't realize it was in MI first time posting. Yes the thing i'm trying to understand is if the HOA bought the house at auction for $12,000 they own it free and clear but if I redeem I will get it back with all bank loans and mortgages? But if it already sold at auction doesn't that mean banks lost all interests at sale date? It has been difficult finding legal help regarding this situation here in WA. thank you
Flag Mon Nov 18, 2013
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