Foreclosure in Miramar>Question Details

June Park, Home Buyer in G.L. Lowery Industrial...

i bought a house from hoa foreclose, if bank do foreclose after while on my property, then i will lose my money that i paid?

Asked by June Park, G.L. Lowery Industrial Park, Groveport, OH Tue May 28, 2013

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3
yes you will,
The bank still is the first lien on the property. The Hoa sodl you their debt. You do not technically own the home, as the bank can come in and foreclose on the property. You need to deal with the bank in regards to the mortgages on the property, and also for future reference please hire a realtor who can locate properties for you that you can own free and clear.



Thank you,
Tamika Moses
Keller Williams Realty SW
954-404-4646
tmrealtor@yahoo.com
0 votes Thank Flag Link Tue May 28, 2013
Looks like you received some bad advice in the past.
0 votes Thank Flag Link Tue May 28, 2013
Usually, yes:(
The HOA only sold the debt owed to them; you need to deal with other liens (most likely in place)
I assume you did not consult with a real estate pro?...
0 votes Thank Flag Link Tue May 28, 2013
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