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Old 01-18-2011, 01:45 PM
 
1 posts, read 3,078 times
Reputation: 12

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I have a 1st Mortgage on my home at this time that is 3 months behind and I am trying to modify my loan. or short sale. The HOA has not been paid in 1 yr and they have served me with a Notice of "Lis Pendens" Can the HOA foreclose on my property or just put a lien on it?????
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Old 01-18-2011, 03:06 PM
 
114 posts, read 449,031 times
Reputation: 68
I think it depends on your by-laws, but yes they can and will foreclose if the docs permit it. A lis Pendens is not a foreclosure action. Not sure if this answers your question.
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Old 01-18-2011, 05:27 PM
 
Location: Palm Beach County
1,708 posts, read 4,397,385 times
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The question you have to ask yourself is if you are a year behind on HOA dues is a loan mod going to help? A year of back dues is a tough lump to overcome and with penalties and attorney fees it will only get worse.
As mentioned most HOA's can foreclose on you and a lis pendens is letting you know that they are starting the process.
I work with a foreclosure attorney that should be able to help slow down that process, and if it comes to the point you need to short sell we work together to help get it done as efficiently as possible.
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Old 01-20-2011, 04:32 PM
 
Location: Delray Beach
20 posts, read 132,855 times
Reputation: 28
Yes the HOA can begin foreclosure procedures against your property, like skylinet mentioned a lis pendens is the beginning process. I believe you have 20 days to answer them. Now you need to investigate what your options are, loan modification or short sale.
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Old 01-21-2011, 03:57 PM
 
194 posts, read 427,598 times
Reputation: 148
Your association can absolutely foreclose on your property for not paying HOA dues. Will they depends on your HOA Board. Some are very aggressive and will start foreclosure once you miss a HOA payment and try to take the property through the courts and rent it till the bank takes ownership. Others Associations will file a lis pendens and do nothing more. My guess is that if your board has waited a year to file a lien then then are probably no going to push the issue and foreclose on you.
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Old 01-22-2011, 08:07 AM
 
114 posts, read 449,031 times
Reputation: 68
"My guess is that if your board has waited a year to file a lien then then are probably no going to push the issue and foreclose on you."

- unless they have changed their strategy in dealing with the issue. Boards are rightfully getting more aggressive now out of necessity.
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Old 02-01-2011, 02:39 PM
 
Location: Ocean Ridge
154 posts, read 388,521 times
Reputation: 111
Yes they have too, but it then opens a can of worms for the board too!
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