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  • January 30, 2008 at 11:02 AM #11672
    nin_sis
    Participant

    I know foreclosures of rentals has been covered before as I did a search before asking this question. The owner of the house we are renting hasn’t paid his HOA dues for over a year and we’ve been receiving notices from the HOA attorneys that they have put a tax lien on the property. The latest notice stated that they would foreclose on the property within 30 days (mid-February) unless all back dues and fees are paid. When an HOA forecloses on a property, do we as renters have any rights? Is our lease null and void (lease ends on April 30)? Also, since we aren’t sure they’ve defaulted on their loan with the bank, is this a totally different type of foreclosure process than the time frame SD Realtor wrote about last month in response to temeculaguys question? We are contacting the owner to see what is going on from his end. Any suggestions or comments would be greatly appreciated.

    January 30, 2008 at 11:51 AM #145235
    Raybyrnes
    Participant

    Why not find out what the unpaid lien is for and see if you can’t make a claim to the property by buying out the lien? If the borrower had money down and there is equity this might be opportunistic. More than like this is not going to be the case but it might be worth a littel bit of time.

    January 30, 2008 at 11:51 AM #145475
    Raybyrnes
    Participant

    Why not find out what the unpaid lien is for and see if you can’t make a claim to the property by buying out the lien? If the borrower had money down and there is equity this might be opportunistic. More than like this is not going to be the case but it might be worth a littel bit of time.

    January 30, 2008 at 11:51 AM #145502
    Raybyrnes
    Participant

    Why not find out what the unpaid lien is for and see if you can’t make a claim to the property by buying out the lien? If the borrower had money down and there is equity this might be opportunistic. More than like this is not going to be the case but it might be worth a littel bit of time.

    January 30, 2008 at 11:51 AM #145514
    Raybyrnes
    Participant

    Why not find out what the unpaid lien is for and see if you can’t make a claim to the property by buying out the lien? If the borrower had money down and there is equity this might be opportunistic. More than like this is not going to be the case but it might be worth a littel bit of time.

    January 30, 2008 at 11:51 AM #145576
    Raybyrnes
    Participant

    Why not find out what the unpaid lien is for and see if you can’t make a claim to the property by buying out the lien? If the borrower had money down and there is equity this might be opportunistic. More than like this is not going to be the case but it might be worth a littel bit of time.

    January 30, 2008 at 4:39 PM #145463
    La Jolla Renter
    Participant

    Raybyrnes, very aggressive… I like it!

    Loan to own!!! as the say.

    I can’t imagine this deal having the equity to cover the effort and risk, but worth a look.

    January 30, 2008 at 4:39 PM #145706
    La Jolla Renter
    Participant

    Raybyrnes, very aggressive… I like it!

    Loan to own!!! as the say.

    I can’t imagine this deal having the equity to cover the effort and risk, but worth a look.

    January 30, 2008 at 4:39 PM #145734
    La Jolla Renter
    Participant

    Raybyrnes, very aggressive… I like it!

    Loan to own!!! as the say.

    I can’t imagine this deal having the equity to cover the effort and risk, but worth a look.

    January 30, 2008 at 4:39 PM #145743
    La Jolla Renter
    Participant

    Raybyrnes, very aggressive… I like it!

    Loan to own!!! as the say.

    I can’t imagine this deal having the equity to cover the effort and risk, but worth a look.

    January 30, 2008 at 4:39 PM #145805
    La Jolla Renter
    Participant

    Raybyrnes, very aggressive… I like it!

    Loan to own!!! as the say.

    I can’t imagine this deal having the equity to cover the effort and risk, but worth a look.

    January 30, 2008 at 6:18 PM #145547
    SD Realtor
    Participant

    Aggressive but not smart. You do not buy such subordinate positions. All that will happen someday is that the home gets foreclosed on and you lose. That is why if you buy liens you go for tax liens.

    SD Realtor

    January 30, 2008 at 6:18 PM #145792
    SD Realtor
    Participant

    Aggressive but not smart. You do not buy such subordinate positions. All that will happen someday is that the home gets foreclosed on and you lose. That is why if you buy liens you go for tax liens.

    SD Realtor

    January 30, 2008 at 6:18 PM #145818
    SD Realtor
    Participant

    Aggressive but not smart. You do not buy such subordinate positions. All that will happen someday is that the home gets foreclosed on and you lose. That is why if you buy liens you go for tax liens.

    SD Realtor

    January 30, 2008 at 6:18 PM #145829
    SD Realtor
    Participant

    Aggressive but not smart. You do not buy such subordinate positions. All that will happen someday is that the home gets foreclosed on and you lose. That is why if you buy liens you go for tax liens.

    SD Realtor

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