Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
New Jersey Real Estate Q&A Discussion Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 3 months ago,

User Stats

2
Posts
0
Votes
Zhanna Kelley
0
Votes |
2
Posts

Clearing title after buying a property via an HOA Foreclosure

Zhanna Kelley
Posted

Hi everyone - I was hoping to get some advice and a recommendation of a good RE attorney.

So here is my situation - an HOA foreclosed on a house and I was the winning bidder at the sheriff sale. So I paid 27,000 in HOA dues and I have the sheriff's deed to the property. I took possession of the property.

However, there is a mortgage from 2002 and a junior mortgage. I was able to get in touch with the mortgage company. The lady refused to talk specifics [because I am not the mortgage holder] but she said that the property has 300,000 in mortgages. The original mortgage was 144,000 and I heard that the junior mortgage falls off [it was a tiny 32K]. I am willing to pay this 144,000 - although I am sure the original mortgage is less. But I don't know what these late payments/fees, etc are. No lis pendens have been filed in the history of the prior owner/this property. 


Anyway, I need to engage a good RE attorney to negotiate with the bank on my behalf.

Loading replies...