QUESTION
Can a Homeowner Association foreclose on you if you have a current Bank Mortgage in place?
Asked on Mar 03rd, 2012 on Foreclosures - Florida
More details to this question:
Can a Homeowner Association foreclose on you if you have a current bank mortgage in place? The amount I owe to Home Owners Association is $2000.00 and my bank Lien is $136,000.00. Will it just become another lien?
1 ANSWER
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In Florida the Statute allows for the home/condo associations to foreclose on your home but because of their inferior position to the mortgage the lender's lien will remain unaffected by the association's foreclosure. The mortgage remains on the property and if not satisfied (or paid monthly) the lender will foreclose on the association.
Answered on Mar 05th, 2012 at 7:34 PM