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Andy Gill
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12
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Will mortgage lien surviving foreclosure negotiate?

Andy Gill
Posted

I bought a property at an hoa foreclosure and a mortgage lien survives and is itself in foreclosure. Are they likely to negotiate or will I have to pay the balance? I can't get the mortgage company to talk to me at all since I'm not on the mortgage, but I arm in contact with the foreclosing attorney who want to send me a payoff statement for the whole amount I'm sure.

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,512
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

@Steve Morris No, he bought the actual property....it's just that he has a mortgage superior to the HOA debt which remains attached to the property.

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