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Updated about 12 years ago,
HOA Foreclosure
I am praying that someone here can help me with a situation my husband and I are dealing with.
The home that we are renting is in foreclosure, the bank foreclosure is pending. However, while waiting for the bank to foreclose on the property the HOA foreclosed and won a judgement against the homeowners. The HOA put the judgement (home, I guess) up for auction and it sold.
Here is the question that I have, the winning bidder paid late. They paid the next day and not the day of the auction. So two days later a motion was made for the approval of the sale.
I know that once the auction is finished there is a 10 day waiting period before the sale becomes final. My question is are we waiting for the judge to approve the sale for those 10 days to start or is it just 10 days from the sale and then the sale will be approved and the property ownership transferred.
It has been 8 (business days) since the sale and 6 days since the filing of the motion to approve the sale.
The reason I am asking is our landlord has raised our rent starting in February by 300 dollars and we are hoping that the sale will be final before then so that we do not have to give him more money and can hopefully work something out with the new owner.
I am also wondering if there is anyway that the current owner of the property (our landlord) can stop this foreclosure now that it has been sold?
Thank you to anyone who has any advice for us in this matter.