Won a bid on a Home Owner's Association Foreclosed ... - Zillow ...

Congratulations.

The 2nd mortgage holder can foreclose on you as they have higher authority than HOA and the HELOC is secured by the property.

Could also be IRS Liens, Unpaid Taxes, and Municipal Liens.? All with higher authority than HOA.

Your only obtion is to try and negotiate with the 2nd for a lower payoff and pay it in order to release the lien.

Lots?of Title issues here.? Be careful.

Source: http://www.zillow.com/advice-thread/Won-a-bid-on-a-Home-Owner's-Association-Foreclosed-condo-Through-Pinellas-County-Florida-Foreclos/486584/

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