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Updated almost 2 years ago on . Most recent reply

User Stats

87
Posts
59
Votes
Shelby LeBlanc
  • Flipper/Rehabber
  • Houston, TX
59
Votes |
87
Posts

Sheriff sale for HOA with existing mortgage balance

Shelby LeBlanc
  • Flipper/Rehabber
  • Houston, TX
Posted
I have found a SFR going to be offered at a sheriff sale for the delinquent HOA fees ($5488). There is also an existing mortgage with a balance of approx $250K.
I don't understand how this works. If am the high bidder of , let's say, $25K, what happens to the mortgage balance? I don't know if the mortgage payments are up to date. Is there a possibility the mortgage will reimburse me and add it to the mortgage balance? Any insight to this is great appreciated. Houston Texas area is the location.

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