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Started By
Message
re: Woman loses home after HOA auctions nearly $500K home for $30K
Posted on 7/24/18 at 12:40 pm to go ta hell ole miss
Posted on 7/24/18 at 12:40 pm to go ta hell ole miss
HOA board members don't get paid and they are most likely the only folks willing to serve on the board because the rest of the neighborhood is a bunch of whiney lazy fricksticks. So if you don't like the HOA, either don't live there or stop being a bitch and get on the board. 
2
Posted on 7/24/18 at 12:44 pm to ColdDuck
quote:How long have you served on your HOA board for?
HOA board members don't get paid and they are most likely the only folks willing to serve on the board because the rest of the neighborhood is a bunch of whiney lazy fricksticks. So if you don't like the HOA, either don't live there or stop being a bitch and get on the board
Posted on 7/24/18 at 12:44 pm to shel311
Like being the party responsible for untying the last knot at the end of a rope that a person is sliding down - metaphorically speaking.
Putting myself in this woman's shoes, it doesn't sound like she has much to lose at this point. fricking someone out of $470k when they are at their wit's end is a dangerous place to be.
I don't live in a HOA neighborhood because I wouldn't abide my dipshit neighbors telling me I can't park my boat under my carport. That's a trivial annoyance compared to this. I stand by my earlier statement, this is step one on the list of how to wind up dead.
Putting myself in this woman's shoes, it doesn't sound like she has much to lose at this point. fricking someone out of $470k when they are at their wit's end is a dangerous place to be.
I don't live in a HOA neighborhood because I wouldn't abide my dipshit neighbors telling me I can't park my boat under my carport. That's a trivial annoyance compared to this. I stand by my earlier statement, this is step one on the list of how to wind up dead.
Posted on 7/24/18 at 12:48 pm to shel311
Our annual meetings had like 2% of the neighborhood show up. I was one of the 2%, so they begged me to be on the board. Just over a year. Everyone is so lazy and then thinks the HOA is like some police department when anything goes wrong. Dude, we cut the common grass and make sure you don't paint your house pink.
Posted on 7/24/18 at 12:49 pm to Topwater Trout
quote:
wish i could find a deal like that
No shite, right?. $400k would be a nice down payment on another house.
This post was edited on 7/24/18 at 12:50 pm
Posted on 7/24/18 at 12:49 pm to reverendotis
quote:She didn't pay her mortgage or HOA dues for at least 4 years, and another poster is saying it could be as many as 7 years.
Like being the party responsible for untying the last knot at the end of a rope that a person is sliding down - metaphorically speaking.
Multiple notices were sent to her, she never answered a single one of them.
1. How was the HOA supposed to know what she was going through personally?
2. Even if they did, how much rope does she need? Would you give her another 4-5 years rent free before taking the home away? Isn't 4+ years enough?
quote:She fricked them out of probably over $200k, so she was never going to be able to sniff $470k. She didn't own that house, she screwed herself.
fricking someone out of $470k when they are at their wit's end is a dangerous place to be.
quote:I do live in an HOA neighborhood to avoid just these types of things.
I don't live in a HOA neighborhood because I wouldn't abide my dipshit neighbors telling me I can't park my boat under my carport.
quote:What step would owing someone around $200k in unpaid debts be?
I stand by my earlier statement, this is step one on the list of how to wind up dead.
Posted on 7/24/18 at 12:50 pm to ColdDuck
quote:Oh, I've had nothing but good experiences with my HOA, I keep it simple and aren't looking to do anything crazy with my property.
Our annual meetings had like 2% of the neighborhood show up. I was one of the 2%, so they begged me to be on the board. Just over a year. Everyone is so lazy and then thinks the HOA is like some police department when anything goes wrong. Dude, we cut the common grass and make sure you don't paint your house pink.
I was just going for the joke with my previous post lol.
Posted on 7/24/18 at 12:52 pm to reverendotis
quote:
I can't park my boat under my carport.
Never understood why this was such a big deal to people.
Posted on 7/24/18 at 12:52 pm to ColdDuck
quote:
HOA board members don't get paid and they are most likely the only folks willing to serve on the board because the rest of the neighborhood is a bunch of whiney lazy fricksticks. So if you don't like the HOA, either don't live there or stop being a bitch and get on the board.
HOAs always start out as a way to preserve the value of homes in a subdivision. They end up at some point devolving into a pissing contest for busy-bodies that have free time on their hands to have a say in everyone's business. Most of the time it is less about preserving quality of life and more about suing each other over the pettiest shite known to man. The power is too large for that type of person with a Napoleon complex and too much time on their hands. Most sane people are busy raising a family and working to care about a person parking on their grass or how tall a storage building is.
Posted on 7/24/18 at 12:53 pm to RogerTheShrubber
quote:Busy bodies with nothing better going on in their lives.
Never understood why this was such a big deal to people.
Posted on 7/24/18 at 12:55 pm to OceanMan
quote:
Do they think someone that buys a house for pennies in the dollar is somehow a better solution than the former owner?
A shrewd investor who finds good deals and then flips them? Yeah, that's better for the neighborhood than someone who doesn't make any payments for years and years
Posted on 7/24/18 at 12:56 pm to statman34
quote:
What happens to the rest of the money owed the mortgage holders? If the buyer wins the auction and pays the back taxes the main and all other mortgages are null and void to the buyer? I don't get how that works.
Usually the junior lienholders only get whatever is left after the senior lienholders are paid. If there isn't any money left, their lien on the property is worthless.
However, it doesn't void the debt for the homeowner. She still owes the bank the balance of the mortgage.
ETA - The proceeds of the sale should go to the HOA for the superpriority lien, which is 9 months of common expense assessments, not the full balance due to the HOA. After the 9 months are paid, presumably the first mortgage has priority. The HOA balance is a few steps down the list once those 9 months are paid.
This post was edited on 7/24/18 at 1:12 pm
Posted on 7/24/18 at 12:56 pm to DemonKA3268
quote:
Busy bodies with nothing better going on in their lives.
Yeah, there's a much different attitude here and property values aren't an issue.
I don't understand why people live around other people if they are so uptight.
Posted on 7/24/18 at 1:02 pm to DemonKA3268
Let's start by blaming whomever made this law.
Posted on 7/24/18 at 1:04 pm to OceanMan
quote:Uhh yes?
Do they think someone that buys a house for pennies in the dollar is somehow a better solution than the former owner?
Someone that outright owns the house is probably going to be better for the neighborhood than someone who hasn't paid their mortgage/HOA in years.
Posted on 7/24/18 at 1:07 pm to DemonKA3268
Guarantee that the buyer who got the house for 30K was a "friend" of the board of the HOA......400K of instant equity. Nice.
The problem is allowing a super-priority lien
Here is my problem, if the homeowner was under bankruptcy, provided it was a Chapter 13, the debt with it being attached to the property would be covered under the BK and as such the Trustee would be responsible. A Super Priority lien would fall under that.
My guess though is she filed a Ch. 7 which is a discharge and everything is wiped out and a forced short sell as a condition of the of the 7 discharge . It sounds like the bank got screwed more than anything else . I don't shed a tear for banks
The problem is allowing a super-priority lien
Here is my problem, if the homeowner was under bankruptcy, provided it was a Chapter 13, the debt with it being attached to the property would be covered under the BK and as such the Trustee would be responsible. A Super Priority lien would fall under that.
My guess though is she filed a Ch. 7 which is a discharge and everything is wiped out and a forced short sell as a condition of the of the 7 discharge . It sounds like the bank got screwed more than anything else . I don't shed a tear for banks
Posted on 7/24/18 at 1:10 pm to TheCaterpillar
quote:
The notice of default and election to sell real property to satisfy notice of delinquent assessment lien was recorded and mailed on September 1, 2016 to ALL lienholders and the homeowner.
i could believe the property owner ignore this, but no way in hell was the bank notified and they are the PRIMARY lien holder.
are you stupid enough to believe a bank would allow their $500k value asset to be sold for pennies on the dollar??? the bank would buy out the debt lien from the HOA long before that was allowed to happen.
now i totally agree its 100% the homeowners fault for saying frick the HOA and ignored them allowing them to do this, but there was fraud going on to pull this chicanery as far as the auction sale goes. people have businesses based on flipping properties and there would be a bidding war over that property in the $400k+ range if it was "properly" posted for public notice of auction sale
Posted on 7/24/18 at 1:12 pm to keakar
quote:
could believe the property owner ignore this, but no way in hell was the bank notified and they are the PRIMARY lien holder. are you stupid enough to believe a bank would allow their $500k value asset to be sold for pennies on the dollar??? the bank would buy out the debt lien from the HOA long before that was allowed to happen.
It happens in Nevada all the time.
Posted on 7/24/18 at 1:19 pm to KiwiHead
How does a lender make a loan in a scenario where this can happen?
Posted on 7/24/18 at 1:24 pm to DemonKA3268
No doubt HOAs can be scummy and have a bad name... but things like this don't just happen. They only happen after years of nonpayment, attempts to collect, legal notices, legal action, etc.
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