Texas Short Sale » Lenders, Servicer http://texas-short-sale.com/blog short sale real estate Wed, 09 Mar 2011 19:25:42 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 HOA dues and Short Sales….oil and water http://texas-short-sale.com/blog/hoa-dues-and-short-salesoil-and-water/ http://texas-short-sale.com/blog/hoa-dues-and-short-salesoil-and-water/#comments Thu, 23 Jul 2009 01:23:46 +0000 admin http://texas-short-sale.com/blog/?p=11 Recently I had the opportunity to negoiate a short sale that had past due HOA payments.  The payments were over a year behind and the association had put liens on the property.  Two weeks before closing the homeowner received a foreclosure letter stating the HOA was foreclosing next month.

I was never so frustrated that the HOA “board” demanded full payment.  After every party involved in this transaction made monetary concessions to work together to a reasonable close, the HOA would not budge.

What I have learned is that in certain instances like this, the HOA would be the first paid at the sale.   Even before the first mortgage.  They have nothing to lose.  They always get paid.

Point being, when HOA liens are present and they have filed to foreclose, get the sellers lender and the other parties to absorb the HOA blood money!

Share

]]> http://texas-short-sale.com/blog/hoa-dues-and-short-salesoil-and-water/feed/ 17