hi i need somehelp understanding. I purchased an hoa forclousure at public auction and the bank was not mentiond in the lispendens.. i now hold title from that sale. Several month afterwards the bank forclosed on the mortgage for the same house i bought at auction a few month earlier. however i was not mentiond in the lis pendens for that sale and i had no idea the house went to forclousure again until now that it has sold someone came to my door claiming that they bought it. . I have been living in the home since i purchased it. Now that it has sold at auction again i researched it. Do i still own it. Do i still remain on title or what. If anyone understands what i should do tell me.
Florida property. Orange county public auction. Is where i bought the house. It was an HOA forclousure.
You certainly are going to/have lost the house. I believe they probably would have had to name you in addition to the previous owner, but maybe not. At most, they would have to amend or refile the foreclosure. If so, you'd have to still pay off the mtg or lose the house.
Are you sure they filed the LP after your purchase? It generally takes a year or so to foreclose as a bank in FL.
To clarify, if the bank filed their LP before you bought it, it's all over already. I've seen it dozens of times. If you want to PM me the address I can verify what happened when.
Lack of education strikes again ...
Home lost, money lost.
how do i pm you the address. And yes i purchased it before the lis pendes. I figured or would like to think at this point im like the bank was when the hoa filed the lispendes against the homeowner that lost it too me. Why if the bank was mentioned the hoa forclousure would of closed the bank out right. But they have some deal in the hos bylaws. However im a tax paying citizen and i bought it at auction a few month before tje bank filed against the previouse owner and not me. So i should still have title rights. I bought it in the same public auction. Lack of edjucation on my part i agree. Yet justice is justice and the way tje bank forclosed without notifying me seems down right injustice.
@Curtis Barnett You have to click on my name, "coronet", send colleague request, and type a message.
So you know, the hoa can not wipe out the mtg, hence the reason they never bother naming them as a defendant. As of now, the buyer at the mtg foreclosure does have title, and you don't. You'd have to file a motion to vacate and set aside the sale, and go to court. The bank would then have to eitheramend the suit, attempt to serve you and get a new sale date, or perhaps start over. But the end result is you lose the property, just a matter of time.
You'll need a local real estate attorney.
Want to expand a bit on something Wayne mentioned.
HOA liens do NOT supersede lender or mechanic's liens except in some places where the local legislation has granted the HOA a position similar to a tax lien. Even then, the HOA still assumes the borrower's position when they foreclose: they need to make the payments or the lender(s) can foreclose and gain control of the property.
If the HOA sells the property at auction, the buyer (you) assumes responsibility for the liens.
Only tax liens are in "zeroth" position - they always supersede all other liens which get wiped out in a tax sale.
When a lender forecloses, all junior liens are wiped out, all senior liens remain. If the first lien holder forecloses, all the junior liens get wiped out.
So what did you do wrong?
A title search - or your own search of the public records - would have found the other liens and you would have had to plan on addressing those after you bought the HOA's position in order to retain control of the property. You'd have had to make any back payments to the lenders and the local taxing bodies and / or, possibly, tax buyers. The lenders may require you to refinance the property into your own name, also.
You would still have gotten a deal, though, in all probability.
For what it's worth ...
Hey i want to thak you guys for your feed back. I retained a lawyer and the plan is to vacate once the writ of posession is issued the attorney says. Hopefully time will be on my side. I think the lawsthat govern the sale of property need to be updated. This jus seeme to me as a barbaric way of business..
Can an individual as myself file a lis pendes against the bank or previous homeowner as i did pay their dept too Hoa to retain title shouldent i have the power of the HOA .. what realestate rights do we have smh
@Curtis Barnett I don't think you want to start getting into filing lis pendens unless you get your law license."a lis pendens is a written notice that a lawsuit has been filed concerning real estate".
It is called "slander of title" if done improperly.
You may have a claim for reimbursement (I don't know if you do), but a real estate attorney will be able to answer that in a free 30 minute consultation.