Posted on: 05th May, 2011 04:28 pm
Our home just got foreclosed on and went to Auction and sold on May 2nd. I have not heard from anyone how long we have to get out. 2nd Our homeowners Association has taken a lien on the property and now they have hired someone to take us to small claims court. Doesn't the lien mean that the new buyers would have to pay that before they were able to buy our house? Do We still owe the amount of the lien too, plus maybe have topay in court? This lien is on the 1st mortgage in CA
When a home is foreclosed upon, the foreclosure clears the liens that are in place. Title needs to be marketable to be able to transfer to new owner. Your time frame from auction is as soon as they want the house. Did anyone purchase the house from auction or did it go back to the bank? You will get a notice that you have 3-5 days to move from the house of an unlawful detainer action will be filed. You can contest the UD and try to buy more time. New owner has to go to court to actually evict you. The HOA lien, is probably a judgment against you, not the property.
I guess I will have to go to court to find that out. We don't have the money and no job to garnish so I guess they will just have to wait for it. It's so sad, this was a million dollar home and sold for half. I had a sale date that was postponed for a month and I kept in touch with bank and I was never notified of the second sale date. I thought they had to notify me I probably would have short sold it ect if I had known before the 10 day cut off. House was sold to a 3rd party
Yeah its tough. I completely understand. I worked for an attorney doing loan mods when they were still legal. I have seen it all. Lies, forgery, fraud, illegal foreclosure, you name it. Cant come after you in CA because you have a Deed Of Trust, which the only recourse is to take the property back. The HOA company, just tell them to get in line. Thats my philosophy. Also, prices are not going anywhere. Get back on your feet, stable job, get a secured credit card, 2-3 years later, you are back in the saddle.
Thanks, I have good credit but my husband doesn't anymore.and I work for benefits since my husband got cancer in 06..that's what happened to this house. I work part time for benefits but it takes all my money I make. I'm sure we will be fine in time..now I just have to look for a place here that is cheep that I can afford for the time being..thanks again, MB
Welcome MB,
After a foreclosure sale, you'll get a notice to leave the property. The eviction notice will mention the time period within which you'll have to leave the property. As far as the lien on the property is concerned, there are chances that the new buyer of the property may ask you to pay off the lien so that they will get the property free of any liens.
After a foreclosure sale, you'll get a notice to leave the property. The eviction notice will mention the time period within which you'll have to leave the property. As far as the lien on the property is concerned, there are chances that the new buyer of the property may ask you to pay off the lien so that they will get the property free of any liens.