[sandiego]

It will be a huge issue moving forward.

All things considered, the HOA is pretty impotent in a down market. I don’t know exactly how you solve the issue if people don’t feel that they have to pay on an unsecured obligation.

[sandiego]

It will be a huge issue moving forward.

All things considered, the HOA is pretty impotent in a down market. I don’t know exactly how you solve the issue if people don’t feel that they have to pay on an unsecured obligation.

[sandiego]

It will be a huge issue moving forward.

All things considered, the HOA is pretty impotent in a down market. I don’t know exactly how you solve the issue if people don’t feel that they have to pay on an unsecured obligation.

[sandiego]

It will be a huge issue moving forward.

All things considered, the HOA is pretty impotent in a down market. I don’t know exactly how you solve the issue if people don’t feel that they have to pay on an unsecured obligation.

[sandiego]

It will be a huge issue moving forward.

All things considered, the HOA is pretty impotent in a down market. I don’t know exactly how you solve the issue if people don’t feel that they have to pay on an unsecured obligation.

[sandiego]

Once the foreclosure happens, the bank (owner) is obligated to pay the HOA. In most cases they won’t. The HOA assessments will accumulate and become a junior lien on the property (behind RE taxes, recorded trusts deeds). As you stated, if there is any equity in the home, they might eventually get paid when the home is sold but that could be years (and tens of thousands of dollars) later. The HOA can go after the former owner personally but that is usually a waste of time.

My building has $48,000 in HOA receivables. They also just wrote off $6,000 on one unit that is uncollectible because the former owner didn’t pay for several months before they were foreclosed on.

[sandiego]

Once the foreclosure happens, the bank (owner) is obligated to pay the HOA. In most cases they won’t. The HOA assessments will accumulate and become a junior lien on the property (behind RE taxes, recorded trusts deeds). As you stated, if there is any equity in the home, they might eventually get paid when the home is sold but that could be years (and tens of thousands of dollars) later. The HOA can go after the former owner personally but that is usually a waste of time.

My building has $48,000 in HOA receivables. They also just wrote off $6,000 on one unit that is uncollectible because the former owner didn’t pay for several months before they were foreclosed on.

[sandiego]

Once the foreclosure happens, the bank (owner) is obligated to pay the HOA. In most cases they won’t. The HOA assessments will accumulate and become a junior lien on the property (behind RE taxes, recorded trusts deeds). As you stated, if there is any equity in the home, they might eventually get paid when the home is sold but that could be years (and tens of thousands of dollars) later. The HOA can go after the former owner personally but that is usually a waste of time.

My building has $48,000 in HOA receivables. They also just wrote off $6,000 on one unit that is uncollectible because the former owner didn’t pay for several months before they were foreclosed on.

[sandiego]

Once the foreclosure happens, the bank (owner) is obligated to pay the HOA. In most cases they won’t. The HOA assessments will accumulate and become a junior lien on the property (behind RE taxes, recorded trusts deeds). As you stated, if there is any equity in the home, they might eventually get paid when the home is sold but that could be years (and tens of thousands of dollars) later. The HOA can go after the former owner personally but that is usually a waste of time.

My building has $48,000 in HOA receivables. They also just wrote off $6,000 on one unit that is uncollectible because the former owner didn’t pay for several months before they were foreclosed on.

[sandiego]

Once the foreclosure happens, the bank (owner) is obligated to pay the HOA. In most cases they won’t. The HOA assessments will accumulate and become a junior lien on the property (behind RE taxes, recorded trusts deeds). As you stated, if there is any equity in the home, they might eventually get paid when the home is sold but that could be years (and tens of thousands of dollars) later. The HOA can go after the former owner personally but that is usually a waste of time.

My building has $48,000 in HOA receivables. They also just wrote off $6,000 on one unit that is uncollectible because the former owner didn’t pay for several months before they were foreclosed on.

[sandiego]

Carlsbad is a great area. Very convenient area to live. I have 2 sets of family living there. All of your upside’s are correct. I have to ask, are the houses there selling for 1997 prices yet? If not, you will have a difficult time getting most people on this board (not me) to recommend buying a house now.

1. Built out is not a downside. At least you know what your neighborhood looks like. Imagine living in the Inland Empire in a new, 2800 sf home. The builder is going broke and decides to blow through their remaining lots by building a bunch of 1600 sf crackerboxes. That will suck when it starts happening soon.

2. Marine layer is an issue? You are trading living on the coast for two months of fog. Big deal.

3. There is traffic on the 15, the 805, the 163, the 52, the 56. You can’t escape it. The 8 east past Alpine is pretty clear.

4. Summer Beach congestion is a problem for people driving to the coast and looking for parking. If you are already there, it isn’t a problem.

[sandiego]

Carlsbad is a great area. Very convenient area to live. I have 2 sets of family living there. All of your upside’s are correct. I have to ask, are the houses there selling for 1997 prices yet? If not, you will have a difficult time getting most people on this board (not me) to recommend buying a house now.

1. Built out is not a downside. At least you know what your neighborhood looks like. Imagine living in the Inland Empire in a new, 2800 sf home. The builder is going broke and decides to blow through their remaining lots by building a bunch of 1600 sf crackerboxes. That will suck when it starts happening soon.

2. Marine layer is an issue? You are trading living on the coast for two months of fog. Big deal.

3. There is traffic on the 15, the 805, the 163, the 52, the 56. You can’t escape it. The 8 east past Alpine is pretty clear.

4. Summer Beach congestion is a problem for people driving to the coast and looking for parking. If you are already there, it isn’t a problem.

[sandiego]

Carlsbad is a great area. Very convenient area to live. I have 2 sets of family living there. All of your upside’s are correct. I have to ask, are the houses there selling for 1997 prices yet? If not, you will have a difficult time getting most people on this board (not me) to recommend buying a house now.

1. Built out is not a downside. At least you know what your neighborhood looks like. Imagine living in the Inland Empire in a new, 2800 sf home. The builder is going broke and decides to blow through their remaining lots by building a bunch of 1600 sf crackerboxes. That will suck when it starts happening soon.

2. Marine layer is an issue? You are trading living on the coast for two months of fog. Big deal.

3. There is traffic on the 15, the 805, the 163, the 52, the 56. You can’t escape it. The 8 east past Alpine is pretty clear.

4. Summer Beach congestion is a problem for people driving to the coast and looking for parking. If you are already there, it isn’t a problem.

[sandiego]

Carlsbad is a great area. Very convenient area to live. I have 2 sets of family living there. All of your upside’s are correct. I have to ask, are the houses there selling for 1997 prices yet? If not, you will have a difficult time getting most people on this board (not me) to recommend buying a house now.

1. Built out is not a downside. At least you know what your neighborhood looks like. Imagine living in the Inland Empire in a new, 2800 sf home. The builder is going broke and decides to blow through their remaining lots by building a bunch of 1600 sf crackerboxes. That will suck when it starts happening soon.

2. Marine layer is an issue? You are trading living on the coast for two months of fog. Big deal.

3. There is traffic on the 15, the 805, the 163, the 52, the 56. You can’t escape it. The 8 east past Alpine is pretty clear.

4. Summer Beach congestion is a problem for people driving to the coast and looking for parking. If you are already there, it isn’t a problem.

[sandiego]

Carlsbad is a great area. Very convenient area to live. I have 2 sets of family living there. All of your upside’s are correct. I have to ask, are the houses there selling for 1997 prices yet? If not, you will have a difficult time getting most people on this board (not me) to recommend buying a house now.

1. Built out is not a downside. At least you know what your neighborhood looks like. Imagine living in the Inland Empire in a new, 2800 sf home. The builder is going broke and decides to blow through their remaining lots by building a bunch of 1600 sf crackerboxes. That will suck when it starts happening soon.

2. Marine layer is an issue? You are trading living on the coast for two months of fog. Big deal.

3. There is traffic on the 15, the 805, the 163, the 52, the 56. You can’t escape it. The 8 east past Alpine is pretty clear.

4. Summer Beach congestion is a problem for people driving to the coast and looking for parking. If you are already there, it isn’t a problem.

[Author]

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