All Forum Posts by: Chris Copenhaver

Thanks Wayne. I feel the same, but am always concerned that there is some loop hole I'm missing. I appreciate you responding.

I'm looking to purchase a home coming up at the court house auction. It has already been sold once as a HOA foreclosure and is now owned by a LLC. Now the first position lender is foreclosing. I know for the most part the new owner who purchased the HOA foreclosure would be wiped out. Would the current LLC owner have any right to challenge me if I were to win?

My concern is that I have been told if the HOA docs have certain language that it could wipe out the first position mortgage. I have an acquaintance who buys HOA foreclosure with this certain verbage so I am scared to purchase anything where the HOA has already forclosed. In Tampa this makes up a bunch of the foreclosures auctions I search. Any insight would be greatly appreciated.

I'm looking to purchase a home coming up at the court house auction. It has already been sold once as a HOA foreclosure and is now owned by a LLC. Now the first position lender is foreclosing. I know for the most part the new owner who purchased the HOA foreclosure would be wiped out. Would the current LLC owner have any right to challenge me if I were to win?

My concern is that I have been told if the HOA docs have certain language that it could wipe out the first position mortgage. I have an acquaintance who buys HOA foreclosure with this certain verbage so I am scared to purchase anything where the HOA has already forclosed. In Tampa this makes up a bunch of the foreclosures auctions I search. Any insight would be greatly appreciated.

Thank you David and Wayne! I appreciate the information.

I'm getting ready to bid on a Hillsborough county foreclosure auction. I was told that some down payment programs or second mortgages that are geared to help homeowners get into homes will still have to be paid after the foreclosure by the winning bidder. Has anyone heard this? I always thought since it is in second position that it would be wiped out.

Thanks Wayne. I appreciate your feedback. I have read many of your articles / responses and appreciate your knowledge. The estoppel letter is showing hoa fees owed from the day the h.o.a. foreclosed through the end of this month. The h.o.a. isn't asking for anything previous to them foreclosing 1/10/2015. With that being said and with your statement "Neither you, nor the bank, is liable for the dues during the time the association owned it, the association is, period, and that is not in question" am I correct that I should fight to get these fees removed? I have emailed the title company and they are not very helpful. I'm thinking I may need to get a real estate attorney to go to bat for me before I move forward with closing. 

I'm purchasing a bank owned home from homesearch.com which is occupied.  The h.o.a. foreclosed back on 1/10/2015 then the bank foreclosed 1/12/2016. The bank is saying I need to pay back h.o.a. fees for the past year. My question is isn't the lien from the h.o.a. wiped out once they foreclosed? Furthermore the h.o.a. rented the property immediately after taking possesion in 2015 at $1600 a month. I'm buying the home with the current tenant they placed in the property. The bank says since it is occupied I'm responsible.  Anyone ever had this happen or have any thoughts??