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All Forum Posts by: Gina M Coen

Gina M Coen has started 1 posts and replied 3 times.

Post: HOA owned homes due to Foreclosure

Gina M CoenPosted
  • Posts 3
  • Votes 0

Thank you all for your help. I may have misread the property appraiser site. I type in the association name and 113 properties pop up, but it actually only states the street name, and not house number. I'm not sure what that means. I'm very new at this!

Is there any article in BP that discusses super liens? I went to a REI class this weekend and they stated FL is a super lien state and in many cases would clear the first mortgage IF the mortgage was after July 2008. Ty!

Post: HOA owned homes due to Foreclosure

Gina M CoenPosted
  • Posts 3
  • Votes 0

Thank you! I am in Florida, which is a super lien state, so I would assume a number of these MAY have clear title depending on the year the mortgage was signed. 

Post: HOA owned homes due to Foreclosure

Gina M CoenPosted
  • Posts 3
  • Votes 0

I learned that my HOA has foreclosed on and currently owns over 100 houses in my community. I would assume that it's not convenient for them to own these properties as:

1. They will have to continue to pay any liens on the property (if previous owner is not) or risk getting foreclosed on

2. They probably prefer having residents paying HOA dues.

What are the "rules" for these HOA owned homes? I know that the HOA can only foreclose on these homes maximum for what they are owed. Now that they own these homes, can they sell them for full price if they choose to, or do they still have to accept only what they are owed?

Thanks!