Tag Archives: homeowner association
Foreclosure Question: Who Is A Third Party Bidder?
We received an interesting question, “When a holder of a first mortgage, who is a private individual, enters a bid at foreclosure auction greater than the amount of its mortgage, does that mortgage holder’s status change to a third-party bidder for purposes of the safe harbor provision under Florida law?” The simple answer to… Read More »
What Is Mortgage Priority In Florida?
We had a great question about mortgage and lien priority come in from one of the Yesner Law Podcast listeners: “I bought property at a foreclosure auction. The foreclosure was filed by the second mortgage and the first mortgage was never notified or included as a defendant. Now the first mortgage is about to… Read More »
Buyer Beware When Buying Foreclosure Properties In Florida
Real Estate investors who buy mortgage foreclosure properties at the court house auction often ask us questions about the protecting themselves. Unfortunately, many ask too late. They fail to realize that for the cost of about a year’s worth of air conditioner filters, they can perform a title search to protect their investment, or… Read More »
What Is Joint & Several Liability?
When the bank takes the property back and pays the twelve months to the association. What happens to the balance, in essense? Good question. The statute says that the owner is jointly and severely liable with the previous owners. It’s really, I think going to depend on counsel for the association. Some of the… Read More »
Condo HOA Dues
I’m In Foreclosure, Who Cares About the HOA Dues! Many Florida homeowners have the misconception about their HOA Dues. They think they are exempt from liability to their condominium or homeowner association if they are also in foreclosure. Unfortunately, many people learn too late that condominium and homeowner associations are well-protected under Florida Law…. Read More »
