What happens to my mortgage if myHOA forecloses on my home?

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What happens to my mortgage if myHOA forecloses on my home?

Asked on November 29, 2011 under Real Estate Law, South Carolina

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If your HOA forecloses upon your property presumably due to unpaid association fees and dues, you would lose title on your home and the HOA would take title to your property subject to its existing mortgage in place.

If the HOA does not want to lose title to the property, it will need to keep the mortgage payments on the home current.

Most likely the HOA will have an auction of your property for payment of unpaid dues where there is presumably a mechanic's lien recorded on the property. The HOA can then make a full credit or partial credit bid of the amount you presumably owe it at the sale it could hold on your property.


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