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Updated about 3 years ago on . Most recent reply
Association foreclosure on condo with a HUD mortgage
There is a condo unit foreclosure that I have been following that has a HUD (Depart of Housing and Urban Development) mortgage attached to it. In reviewing the legal docks leading up to the foreclosure, there were numerous attempts by the association attorney to contact HUD without success nor did HUD engage in legal avenues of their own. Eventually, the foreclosure was granted to the condo association. My question is if there may be a possibility that HUD may seek full compensation from the new owner at risk of beginning a foreclosure process of their own against said owner?
New to the foreclosure auction game so any help will be most appreciated.
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@Cyrus Blackshear Yes...HUD will definitely foreclose, just like any other lender.