HOA foreclosing on REO? - Posted by lukeNC

Posted by rdlazo on August 15, 2005 at 18:50:00:

First mortgage need to be satisfied first because
I am almost sure HOA lien came after the first mortgage is recorded. What is the equity after you
pay the first? HOA is usually a very small amount.

HOA foreclosing on REO? - Posted by lukeNC

Posted by lukeNC on August 15, 2005 at 15:50:43:

What happens in a situation where the HOA forecloses on an REO? REO was the result of a first mortgage foreclosure.

Does the winning bidder get the property free and clear?