Question:
Is this possible for the condo association to have an auction for unpaid condo fees without properly notifying the owner, mortgage company or the renter that is living in the unit? Because there were two mortgages in 1st & 2nd against the property those had to be paid off before the successful bidder can take over the unit and there is a time frame of about 90 days to satify the terms of the sale. The owner did not find out about the auction until 10 months after the fact when a monthly mortgage payment was refunded because the account had been paid in full. The certificate of satisfaction was recorded and sent to the owner and the condo leins still remain against the property. The owner is still paying property taxes however the association is claiming the property foreclosed and someone else now owns the property therefore numerous attempts to satisfy the condo liens has been unsuccessful. Maybe someone in real estate can make some since of this. Does the owner have a ligitament case
Answer:
This is unusual but not unheard of. Typically, the association will just place a lein against the property, but seeing that the property already had two leins against it, they may not have been able to do so and took the next best step to insure they were paid. Usually in that case the borrower (owner) will get some sort of notice of the sale ahead of time either from the court, the association, a notice in the newspaper, or the mortgage company(s). I would inquire with the mortgage company to see if and when they recieved official notice if at all, and look in the local news papers for the announcement in the legal section. If its there, the owner and occupant have no recourse. At this point, I would try to find out how much the property sold for and to whom by going to the local county and seeing what was recorded as the last sale price. If the amount was substantial, and was more than enough to cover the original leins by the mortgage companys, the condo fees, and any legal costs, I'd be banging on doors to get the residual monies. At this point its a done deal, and the owner should stop paying mortgage payments and condo fees, and informn the renter they may be evicted without notice by the new owner. I'd be looking for a new place soon, as if the new owners are like the condo association people they may give no notice of eviction, and the occupant will come home one day to find the place bolted shut and/or cleaned out.
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