[urbanrealtor]

Oh my god!!!!

That is the best site ever.

[urbanrealtor]

Oh my god!!!!

That is the best site ever.

[urbanrealtor]

Econprof is right (and I don’t often say that).

You only need a real estate attorney if you actually proceed with the foreclosure.

Otherwise its pretty black and white.

If you foreclose as a junior lien holder then you get to be the owner subject to the senior lien (with all the incumbent payments and duties).

Unless the property is more valuable than the liens that are senior to your interest as an HOA (eg: it is worth 500 and the 1st and 2nd are for 300) this is a colossally dumb move.

This is why most junior lien holders (be they 2nd’s, 3rd’s, HOA’s, or contractors) don’t foreclose on properties.

They just hold onto that lien interest and wait until the asset outweighs the liabilities.

A better move would be to find out (using public records or private databases) whether or not there is a foreclosure action going on.

If there is one, you are better served to pile on a heap of fines and assessments after the bank repos it.

This would not necessarily stand up in front of a lawyer.

In fact, it almost certainly would not.

However it is also almost certain that the bank (with all the places they are collecting) won’t notice that some of the assessments and fines predate their ownership.

Many banks delay repossession simply to defer those fines.

At any rate, if they contest them and you realize your “mistake”, there will be no additional negative consequence other than being unable to collect them.

As you can tell my sympathy for the banks is rather limited (and I live in a conversion where they have really screwed the HOA).

[urbanrealtor]

Econprof is right (and I don’t often say that).

You only need a real estate attorney if you actually proceed with the foreclosure.

Otherwise its pretty black and white.

If you foreclose as a junior lien holder then you get to be the owner subject to the senior lien (with all the incumbent payments and duties).

Unless the property is more valuable than the liens that are senior to your interest as an HOA (eg: it is worth 500 and the 1st and 2nd are for 300) this is a colossally dumb move.

This is why most junior lien holders (be they 2nd’s, 3rd’s, HOA’s, or contractors) don’t foreclose on properties.

They just hold onto that lien interest and wait until the asset outweighs the liabilities.

A better move would be to find out (using public records or private databases) whether or not there is a foreclosure action going on.

If there is one, you are better served to pile on a heap of fines and assessments after the bank repos it.

This would not necessarily stand up in front of a lawyer.

In fact, it almost certainly would not.

However it is also almost certain that the bank (with all the places they are collecting) won’t notice that some of the assessments and fines predate their ownership.

Many banks delay repossession simply to defer those fines.

At any rate, if they contest them and you realize your “mistake”, there will be no additional negative consequence other than being unable to collect them.

As you can tell my sympathy for the banks is rather limited (and I live in a conversion where they have really screwed the HOA).

[urbanrealtor]

Econprof is right (and I don’t often say that).

You only need a real estate attorney if you actually proceed with the foreclosure.

Otherwise its pretty black and white.

If you foreclose as a junior lien holder then you get to be the owner subject to the senior lien (with all the incumbent payments and duties).

Unless the property is more valuable than the liens that are senior to your interest as an HOA (eg: it is worth 500 and the 1st and 2nd are for 300) this is a colossally dumb move.

This is why most junior lien holders (be they 2nd’s, 3rd’s, HOA’s, or contractors) don’t foreclose on properties.

They just hold onto that lien interest and wait until the asset outweighs the liabilities.

A better move would be to find out (using public records or private databases) whether or not there is a foreclosure action going on.

If there is one, you are better served to pile on a heap of fines and assessments after the bank repos it.

This would not necessarily stand up in front of a lawyer.

In fact, it almost certainly would not.

However it is also almost certain that the bank (with all the places they are collecting) won’t notice that some of the assessments and fines predate their ownership.

Many banks delay repossession simply to defer those fines.

At any rate, if they contest them and you realize your “mistake”, there will be no additional negative consequence other than being unable to collect them.

As you can tell my sympathy for the banks is rather limited (and I live in a conversion where they have really screwed the HOA).

[urbanrealtor]

Econprof is right (and I don’t often say that).

You only need a real estate attorney if you actually proceed with the foreclosure.

Otherwise its pretty black and white.

If you foreclose as a junior lien holder then you get to be the owner subject to the senior lien (with all the incumbent payments and duties).

Unless the property is more valuable than the liens that are senior to your interest as an HOA (eg: it is worth 500 and the 1st and 2nd are for 300) this is a colossally dumb move.

This is why most junior lien holders (be they 2nd’s, 3rd’s, HOA’s, or contractors) don’t foreclose on properties.

They just hold onto that lien interest and wait until the asset outweighs the liabilities.

A better move would be to find out (using public records or private databases) whether or not there is a foreclosure action going on.

If there is one, you are better served to pile on a heap of fines and assessments after the bank repos it.

This would not necessarily stand up in front of a lawyer.

In fact, it almost certainly would not.

However it is also almost certain that the bank (with all the places they are collecting) won’t notice that some of the assessments and fines predate their ownership.

Many banks delay repossession simply to defer those fines.

At any rate, if they contest them and you realize your “mistake”, there will be no additional negative consequence other than being unable to collect them.

As you can tell my sympathy for the banks is rather limited (and I live in a conversion where they have really screwed the HOA).

[urbanrealtor]

Econprof is right (and I don’t often say that).

You only need a real estate attorney if you actually proceed with the foreclosure.

Otherwise its pretty black and white.

If you foreclose as a junior lien holder then you get to be the owner subject to the senior lien (with all the incumbent payments and duties).

Unless the property is more valuable than the liens that are senior to your interest as an HOA (eg: it is worth 500 and the 1st and 2nd are for 300) this is a colossally dumb move.

This is why most junior lien holders (be they 2nd’s, 3rd’s, HOA’s, or contractors) don’t foreclose on properties.

They just hold onto that lien interest and wait until the asset outweighs the liabilities.

A better move would be to find out (using public records or private databases) whether or not there is a foreclosure action going on.

If there is one, you are better served to pile on a heap of fines and assessments after the bank repos it.

This would not necessarily stand up in front of a lawyer.

In fact, it almost certainly would not.

However it is also almost certain that the bank (with all the places they are collecting) won’t notice that some of the assessments and fines predate their ownership.

Many banks delay repossession simply to defer those fines.

At any rate, if they contest them and you realize your “mistake”, there will be no additional negative consequence other than being unable to collect them.

As you can tell my sympathy for the banks is rather limited (and I live in a conversion where they have really screwed the HOA).

[urbanrealtor]

[quote=Enorah]Ojai

Spa time is easy

Try La Costa Spa & Resort

call them

they’ll hook you up

I love it there

Russian River is awesome. I used to live there. But it is an 11 hour drive from here.[/quote]

As someone who grew up near there, I can reliably say that you can make it in 7. However, you should not try it with passengers.

[urbanrealtor]

[quote=Enorah]Ojai

Spa time is easy

Try La Costa Spa & Resort

call them

they’ll hook you up

I love it there

Russian River is awesome. I used to live there. But it is an 11 hour drive from here.[/quote]

As someone who grew up near there, I can reliably say that you can make it in 7. However, you should not try it with passengers.

[urbanrealtor]

[quote=Enorah]Ojai

Spa time is easy

Try La Costa Spa & Resort

call them

they’ll hook you up

I love it there

Russian River is awesome. I used to live there. But it is an 11 hour drive from here.[/quote]

As someone who grew up near there, I can reliably say that you can make it in 7. However, you should not try it with passengers.

[urbanrealtor]

[quote=Enorah]Ojai

Spa time is easy

Try La Costa Spa & Resort

call them

they’ll hook you up

I love it there

Russian River is awesome. I used to live there. But it is an 11 hour drive from here.[/quote]

As someone who grew up near there, I can reliably say that you can make it in 7. However, you should not try it with passengers.

[urbanrealtor]

[quote=Enorah]Ojai

Spa time is easy

Try La Costa Spa & Resort

call them

they’ll hook you up

I love it there

Russian River is awesome. I used to live there. But it is an 11 hour drive from here.[/quote]

As someone who grew up near there, I can reliably say that you can make it in 7. However, you should not try it with passengers.

[urbanrealtor]

[quote=paramount]To urbanrealtor: I don’t think my statement is really that inaccurate at all. A proud two finger salute to you sir – yes, that’s one from each hand.

I know realtors and brokers of all types have a problem counting unless the numbers are green, thought I’d help you out.[/quote]

Yes because 2 years of differential calc left me unable to count (not sure how the color would help as I am red-green colorblind…).

I think stating that all real estate agents are unethical or stupid is a bit like saying that all cops are power-obsessed gun nuts, or that all code monkeys are socially retarded hacks.

It is true that independent contracting tends to select for those who can’t or don’t want work regular jobs. It is also true that sales tends to select for, well, sales types.

However, I think its a far leap to say that being a con artist is required. I am glad that the cheesier agents have become fewer since the downturn. My only frustration with the sizable uptick in business in the central San Diego neighborhoods is that I suspect it will bring more cheeseballs out of the woodwork.

You are, of course entitled to your opinion. Since arguing with you is a bit like arguing with Casca (like you argue at the same level), I will leave it at that.

[urbanrealtor]

[quote=paramount]To urbanrealtor: I don’t think my statement is really that inaccurate at all. A proud two finger salute to you sir – yes, that’s one from each hand.

I know realtors and brokers of all types have a problem counting unless the numbers are green, thought I’d help you out.[/quote]

Yes because 2 years of differential calc left me unable to count (not sure how the color would help as I am red-green colorblind…).

I think stating that all real estate agents are unethical or stupid is a bit like saying that all cops are power-obsessed gun nuts, or that all code monkeys are socially retarded hacks.

It is true that independent contracting tends to select for those who can’t or don’t want work regular jobs. It is also true that sales tends to select for, well, sales types.

However, I think its a far leap to say that being a con artist is required. I am glad that the cheesier agents have become fewer since the downturn. My only frustration with the sizable uptick in business in the central San Diego neighborhoods is that I suspect it will bring more cheeseballs out of the woodwork.

You are, of course entitled to your opinion. Since arguing with you is a bit like arguing with Casca (like you argue at the same level), I will leave it at that.

[urbanrealtor]

[quote=paramount]To urbanrealtor: I don’t think my statement is really that inaccurate at all. A proud two finger salute to you sir – yes, that’s one from each hand.

I know realtors and brokers of all types have a problem counting unless the numbers are green, thought I’d help you out.[/quote]

Yes because 2 years of differential calc left me unable to count (not sure how the color would help as I am red-green colorblind…).

I think stating that all real estate agents are unethical or stupid is a bit like saying that all cops are power-obsessed gun nuts, or that all code monkeys are socially retarded hacks.

It is true that independent contracting tends to select for those who can’t or don’t want work regular jobs. It is also true that sales tends to select for, well, sales types.

However, I think its a far leap to say that being a con artist is required. I am glad that the cheesier agents have become fewer since the downturn. My only frustration with the sizable uptick in business in the central San Diego neighborhoods is that I suspect it will bring more cheeseballs out of the woodwork.

You are, of course entitled to your opinion. Since arguing with you is a bit like arguing with Casca (like you argue at the same level), I will leave it at that.

[Author]

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