HOA sales

Asked by Ben, Houston, TX Wed May 19, 2010

I bought a house from HOA foreclosure sale in Houston, TX. The house got foreclosed by Wellsfargo while I was waiting for 6 month right of redemption to expire without any notice to me. Do I have still have any claim on this house ?

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Seda Hambarc…, Agent, Houston, TX
Wed Sep 8, 2010
We do have an in house attorney at my company. If you still want an answer let me know and I will forward you his contact information.
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are you in las vegas I'm looking to buy hoa foreclosures in las vegas
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gabriel palo…, Agent, Pompano Beach, FL
Tue Jul 6, 2010
Mortgage interest should be lifted for a period of three years on properties purchased between 2006 -2008 to provide substantial saving to the borrower . It would replace a number of options incentives and administrative expense. 
Institution would be spared dealing with abandoned properties and the expense of maintaining them. 
Property owners would have a real chance to maintain their dignities and keep their properties at the same time. With most mortgages amortized for 30 years costing the borrower more than double of original purchase price if held till paid off. 
Banks have really little to loose but to gain from the respect of those that are given hope to hold on to their property. The savings in interest payments over a three year period does not require institution to forgive loans, roll prices back. It does provide a faire adjustment and substantial savings to all parties if action was quickly administered like immediately. - Tue Jun 1 2010, 06:09

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By Ron & Debbie Albert,  Mon Jul 5 2010, 05:33
I think you have a wonderful idea! Is there a way to get it to the gov't?
How about sending it to your representatives in Washington?

Debbie Albert
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Scott Godzyk, Agent, Manchester, NH
Thu May 20, 2010
As most laws differ from state to state you will really want to seek the advice of an attorney in your area, at least take them up on teh first free meeting to get a direction. Usually the first mortgage will pay off the back HOA fees before the foreclosure. The HOa will try and foreclose to secure their back amount. Where there was a first mortgage, i would think you would have had to pay that off before you could take title as a foreclosure by a second lein holder doesnt erase the 1st lein holder. But TX law could be different. Where as there was that 6 month redemption, which we do not have here in NH, it allowed the 1st mortgage co to come in and foreclose to protect their rights. Good luck working things out
Web Reference:  http://www.ScottSellsNH.com
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James Gordon…, Agent, Hamilton, OH
Thu May 20, 2010
Ben you need to check with an attorney in your area. One thing about buying at a forclosure sale always do a title search and find out if the first lien is the one that you are bidding on. Junior liens get wiped out in my area when the first forcloses. Talk to a attoreny that specialises in real estate and forclosures you already have money wrapped up in this what is a little more to find out where you stand?
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