Posted by EDWIN on November 19, 2009 at 15:08:32:
In Reply to: Legal Eagles....Need your input! posted by acw on November 19, 2009 at 09:45:21:
Your idea: What if i give a mortgage to a company or trust (that i control) that allows me to thrwart the HOA's interest by circumventing their position. If they place a lien, they would not be able to gain complete control of the property because of the first mortgage.
I have no idea if HOA dues and fees have the right to be a superior lien to any mortgage you placed on the property. I'd get that question answered first. I once bought a property at foreclosure where I found out there was an unpaid city utility bill. I got stuck paying that, but that's probably because taxes and utilities generally seem to have superior lien rights over mortgages. Foreclosing does NOT wipe them out.
- Re: Legal Eagles....Need your input! Chi Ming 16:03:12 11/20/09 (1)
- Chi.... acw 18:52:21 11/20/09 (0)