Post by Scott in SoCalPost by Brent PPost by Scott in SoCalPost by Brent PPost by Scott in SoCalPost by Brent PAnd this is good for the HOA when the banks are foreclosing exactly how?
If nothing else, once the house is foreclosed on and the scumbag
owners are evicted, someone can go in and clean off all the graffiti.
Then you get to deal with the people that bought it at auction.
I'll take my chances.
Post by Brent PPost by Scott in SoCalPost by Brent PIt really doesn't matter though, because the big lender is going to get
everything and the HOA's lien will just be disregarded anyway.
Nobody cares about the money. What they care about is getting rid of a
hideous eyesore.
The point is the HOA's lien is meaningless in all respects under a zero
equity condition.
Why are you repeating yourself when your point has already been
addressed? The amount of equity is irrelevant - if the owners are
foreclosed upon, they are GONE, and whoever ends up owning the house
afterwards is going to clean all the shit off of it so they can sell
it and recover at least some of their investment. Thus, the original
goal of getting the house cleaned up is satisfied.
The lien doesn't do that. The lien from the association doesn't bring about
the foreclosure.
http://www.ahrc.com/new/index.php/src/news/sub/article/action/ShowMedia/id/3251
However the foreclosure occurs, what matters is that it DOES occur,
the current scumbag owners will be evicted, and the "investor" who
buys the house at auction is going to fix it up in order to sell it.
Bye bye, graffiti!
nice trim scoup. Again, when you're dealing with the subprime, they don't
give a shit. The association's lien and attempt to foreclose amount to
nothing. The association could do nothing and spend no money. It's
meaningless act that just eats up funds in legal fees. It does nothing
when the owner has nothing in the property.
As to your cite:
"Not many people knew Sabina Anna Prioletta, a single, 37 year-old female
on government disability, weighing some 100 pounds at 5-2. She was
trying to survive at the poverty level on the disability payments. In
2001 she inherited enough money to buy a 924 square foot, 2 story
attached home"
<...>
"Three years elapse without any demands or notices for any payments. Then
in May 2005 Sabina is hit with a civil suit for back payments, but
beginning only in 2004. There was prior notice and demand for payment by
somebody saying that they were the HOA, "
<...>
--------
Seems like that was all about the money against an owner with 100%
equity. I'm talking about subprime zero equity people who would live in a
graffiti covered house and you're bringing up an example of a woman with
100% equity who couldn't pay her HOA assements.
So, like I said, the lien, the foreclosure, the whole 9 yards is
effective against people with equity, not those without. When you're
talking about a home decorated with graffiti you're probably dealing with
the later, not the former.
Your cite supports what I wrote, that it's an effective tool against
owners with equity.
BTW, call up the image of the sign on the right...
NO REPAIRS TO VEHICLES ALLOWED. IMMEDIATE $200 FINE.