Can a foreclosed homeowner get a new loan against his/her foreclosed property after that property sold to a highest bidder at a HOA foreclosure during the 90 day redemption period expires? What if the foreclosed homeowner quit claim the title to his/her property to another party besides the highest bidder who is still waiting for the redemption period expires, then who will get title to the foreclosed property?
Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
8y
Unlikely. The property has serious encumberances against if from the foreclosure. And if the foreclosed homeowner has quit claimed the property to someone else they don't even own it any longer. IDK if that quit claim has any value or not. Redemption rights can be sold, though. If the homeowner sold their redemption rights to someone else, they really have no claim whatsoever on the property.
The only real way to figure out the title situation is to consult with an attorney or a title company in the area.