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Updated about 8 years ago,

User Stats

51
Posts
23
Votes
Sean Phillips
  • New to Real Estate
  • Falls Church, VA
23
Votes |
51
Posts

Foreclosure and the existing mortgage

Sean Phillips
  • New to Real Estate
  • Falls Church, VA
Posted

All I came across some interesting items and I am trying to work it out and explain to the wife. I have found some HOA foreclosures in my area and actually when driving for dollars found an empty rental at the time and tracked down all that happened. So the HOA foreclosed and the house went to Sell Dec 2015. When I was tracking cases against the previous owner, the one the HOA foreclosed on I see a lis pendens against him in late 2016 from the Lender.

My Question is this.  Since the house was foreclosed and deeded backed in 2015 the Lender has no recourse to the property correct?

Now I am looking at one as well and in the documentation I see that any persons with interest in the property can make a claim up to 60 days after the sale.  So the next question is if the Lender files motions on the 59th day am I screwed?  If I take deed can I turn around and sell before the 60 day period??

Thanks in advance!

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