Ask Experts Questions for FREE Help !
Ask
    spotter's Avatar
    spotter Posts: 5, Reputation: 1
    New Member
     
    #1

    Jul 5, 2008, 08:30 AM
    Short Sale and Monies Past Due
    On a short sale, if money is owed to a home owners association, will these dues be paid before sale or do we need to file a lien.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
     
    #2

    Jul 5, 2008, 08:39 AM
    Hello spotter:

    You'll need to file a lien. BUT, depending on your CC&R's, you may have to sue them first and win a judgment.

    excon
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #3

    Jul 5, 2008, 10:31 AM
    If there is a lien placed, it can stop the short sale from happenning, since at closing that lien would have to be paid, and since there is not even enough money to pay the mortgage, there is no money to pay the lien, so in most cases, this will just stop the sale from happening.
    Then what happens the home will just foreclose, and sell at a foreclosure sale which will take months and then the HOA won't get paid anyway at that sale.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Short sale [ 1 Answers ]

Hi, The house I am purchasing is in short sale, and it was appraised for less than the asking price. My agent told me that because of what the home was appraised at, the bank is not going to fund more money than that, therefore my contract is null and void. Do you think I will have to...

Short sale [ 1 Answers ]

I am in the process of trying to do a short sale and have a offer pending bank approval what is the options if it is not approved and is a short sale terrible on a credit report

Short sale [ 1 Answers ]

When a short sale is not accepted what is the next best option?

Short sale [ 1 Answers ]

How long does the owner get to have the house under short sale? Is there a time frame before the lender will take it back and foreclose on the house?

FHA short sale [ 4 Answers ]

I sold my house over 4 years ago via a short sale because I had been laid off and could no longer afford to pay my monthly mortgage. I received a letter in the mail yesterday, Feb 22, 2007, from HUD saying that I owed them $4900. I can only assume that this is from the property that was sold 01/03,...


View more questions Search