HOA Foreclosure rental (tenants, auction, foreclosed, agent)

[cc9703]

[SIZE=3]I was considering renting a pool home in Central Florida and met with an agent from the management company handling the home. It turned out that the HOA had title to the home and was trying to rent it out. To make a long story short, I was seeking more information regarding foreclosure because the agent just couldn’t or wouldn’t answer most of my questions. I found that the lender was awarded a Final Summary Judgment of Mortgage Foreclosure on 5/19/10 and the home went up for auction on 8/27/10. The HOA was awarded a Default Final Judgment of Foreclosure on 9/15/10 with an auction on 10/19/10! I’m more than a little confused since I don’t understand how the HOA could foreclose after the lender and still gain title. In any event I’m thinking that provisions of the Protecting Tenants Foreclosure Act wouldn’t apply since the lender already foreclosed on the home. If anyone can illuminate this a little for me it would be very appreciated. [/SIZE]

[cc9703]

Thanks, I'm definitely not leaning towards renting that home anymore. If nothing else I've learned a great deal so far from this, especially on how to get property info. I knew HOA’s could place liens, but had been unaware that a HOA could foreclose on a home, gain title, and then rent it out. Also knew nothing about the PTFA, but this double foreclosure has me stumped so far.