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ARE ASSOCIATION FORECLOSURES A FRAUD ON THE PUBLIC?
When buying any type of distressed property it is imperative that the buyer do their due diligence with an expert:
 
After being the winning bidder at an association foreclosure sale, one of my clients recently complained to me that Condominium or Homeowner Association foreclosures of liens are a fraud upon the public.  There is some truth to the statement and understanding his anguish on his own loss of $50,000 by being the "successful" bidder on one of them underscores his reasoning.
The foreclosure process of an association lien for non-payment of association assessments, is a straight forward process.  The property owner becomes delinquent, then the association places a lien on the property, and then the association files a foreclosure lawsuit that eventually forces a sale of the property through a public auction - the foreclosure sale.
Foreclosure process unique to association lien:
In the foreclosure process there is a very important difference between a foreclosure of a first mortgage and the foreclosure of an association lien.  That difference is the naming of defendants in the association foreclosure as opposed to a first mortgage foreclosure.
A first mortgage foreclosure names all inferior lien positions that may affect the property.  This includes 2nd and 3rd mortgages, ... more

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