Will the HOA come after me for unpaid monies? Posted on July 19, 2011
My HOA initiated a non-judicial trustee sale that was held on June 27th and I believe there were no bidders as the Sale Status is: Back to Bene 06/27/2011. The following information is also noted; Notice of Sale Amt:$8,073.38 Opening Bid Amt:$7,882.38 and Sold Amt: $7,882.38 My first question is I understand that in California there is a 90 day redemption period for auctions sold/initiated by HOA. If I redeem during this period, what would the amount be, one of the amounts I indicated above the opening or sale amount, or the full value of the house around $450k. If there were no bidders at an HOA sale, can the HOA come after me for the unpaid monies? Are they subject to the one action rule about deficiencies? Next, under foreclosure sales, my understanding is that the 2nd and 3rd mortgages (junior liens) not the first, would be wiped out, if I redeem the property would this reinstate the junior liens to their previous status and they would still have interest in the property after I redeem?
Click to View More Answers: