Re: Foreclosure and delinquent HOA

Posted by steele in minnesota on January 30, 2008 at 07:49:05:

In Reply to: Foreclosure and delinquent HOA posted by GT on January 29, 2008 at 22:19:30:

Not in California but have seen similar cases in much of the country. If foreclosure is being done by a senior lien the HOA fees would drop off the property once foreclosure is complete. At least around here.

Now in Minnesota as we have a 6 month redemption period it is the bank that is usually the winning "bidder" at auction. They end up taking over for the monthly dues, but only for the period that they actually own the property.

In most cases the association ends up taking the loss for those owed by the former owner.

Now could the association still attempt to collect?

That is possible here but not usually worth it.

Anyone from California, chime in.

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