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  1. #1
    Join Date
    Jun 2013
    Posts
    3

    Question Who Pays Overdue Condo Fees After a Deed in Lieu of Foreclosure

    My question involves a condominium located in the State of: California

    We own a first position note on a condo with delinquent HOA and a lien on the title but the 2nd refuses to negotiate a reasonable settlement.
    After foreclosure the 2nd will get wiped out and the borrower remains responsible for the delinquent HOA, although an unenforceable lien remains on the title.
    If we pay off the 2nd to get a DIL, we save the time and foreclosure cost but what happens with the prior HOA ?

  2. #2
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Delinquent Condo HOA Responsibility After Dil

    Keep it all in the same thread please.

    DIL's do not affect liens like foreclosures do.

  3. #3
    Join Date
    Jun 2010
    Posts
    179

    Default Re: Delinquent Condo HOA Responsibility After Dil

    What about the original owner? Purchasing the note just means that the owner has to now pay you instead of the previous note holder. He won't do this if he's gone. So that means you have to foreclose to take the title from the previous owner. Even if you paid the 2nd and HOA, how is the title going to get transferred to you?

    I don't know. I'm not in California but here you'd have to foreclose to get the original owner out of the picture even if they no longer live there.

    It looks like California allows non-judicial foreclosures.

    http://homeguides.sfgate.com/califor...cess-9040.html

    Maybe get a lawyer who can help you foreclose. If non-judicial is really allowed, it should not be terribly expensive.

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