HOA Forclosure on a home in short sale

Can a homeowners association forclose on a home listed as a short sale and seller is in the process of finding a buyer in Broward County, FLorida?  ANy help with this questions would be really appreciated!

 

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Permalink Reply by Bryant Tutas on February 15, 2012 at 7:24am

Yes the HOA can and will foreclose

Permalink Reply by Vanessa D'Souza on February 15, 2012 at 7:53am

Thanks for your reply Bryant!  I appreciate it.

Permalink Reply by Vanessa D'Souza on February 15, 2012 at 7:54am

Thanks Brian for taking the time to reply.  I appreciate it.

Permalink Reply by Cody Lampariello on February 16, 2012 at 3:43am

Simple answer is yes.

The more detailed answer is: The HOA foreclosure is treated just like a mortgage foreclosure except the mortgage still has senior lien-holder rights. This means if the HOA does foreclose you can still short sell the house as long as you can get the association to play along. We do it on a lot of properties the HOA just has to release their foreclosure and give the property back to the original owner just prior to closing. We have an office in Broward if you need assistance let me know.

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