What is the name of your state (only U.S. law)?
I am a Realtor on the seller side of a short sale of her house. She filed bankruptcy in June of 2008. A HOA lien was filed on the property in December of 2008 in the amount of $2146.00. The Court has ordered a lift of stay if seller's house is not sold by December 5, 2009. We have a buyer for the property and the only thing that still needs to be taken care of before closing is this HOA lien. The HOA refuses to negotiate the lien, which is now about $2000 after the short sale lender pays a portion. My question...is the HOA lien wiped out at foreclosure? If not, how easily and when does the HOA recoup the money owed them?
I am a Realtor on the seller side of a short sale of her house. She filed bankruptcy in June of 2008. A HOA lien was filed on the property in December of 2008 in the amount of $2146.00. The Court has ordered a lift of stay if seller's house is not sold by December 5, 2009. We have a buyer for the property and the only thing that still needs to be taken care of before closing is this HOA lien. The HOA refuses to negotiate the lien, which is now about $2000 after the short sale lender pays a portion. My question...is the HOA lien wiped out at foreclosure? If not, how easily and when does the HOA recoup the money owed them?
