Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: XBrit who wrote (95779)	7/21/2008 8:40:31 PM
From: TH	Respond to of 110194

XBrit, Excellent. I look very forward to learning what you have found out. Thanks and good luck. GT TH

To: XBrit who wrote (95779)	7/21/2008 9:23:39 PM
From: John Vosilla	Respond to of 110194

'I'm reasonably sure that the backlog has to be paid off eventually, it's a lien against the property and no willing buyer could buy it without satisfying that.' Check the state law cause your lien could be wiped out in the foreclosure if they name your HOA. In my state the HOA lien is subordinate in most all cases or the lender would never make the loan. Some interesting dialogue on Fannie and Freddie loans that make a ton of sense. Also if a property is sold for back RE taxes every other lien non government lien is subordinate.. topix.com

To: XBrit who wrote (95779)	7/22/2008 12:24:13 AM
From: Cactus Jack	Read Replies (1) \| Respond to of 110194

XBrit, Under California law, your assessment lien is subordinate to the first mortgage but is senior to any other encumbrances recorded after the lien. If your HOA forecloses on its assessment lien, it (or any buyer at the foreclosure sale) takes title to the property subject to senior encumbrances. If a senior encumbrance forecloses, your lien is extinguished. Of course, if a buyer simply buys from the current owner, the lien should be satisfied in the course of the sale. I'm not sure if that answers your question, but hope that helps. jpg