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Lender renting out Debtor's condo in Vegas without
If you would like an out of the box solution, i.e. probably not going to
work, I would say have you client fall behind one month on hoa fees, then
purchase the claim from the HOA and foreclose on the property. In Nevada,
from what I remember, HOA liens have superpriority meaning they prime the
lender's lien.
So either the lender will then pay your client + attorney fees, or your
client will own free and clear of the bank's lien.
Most likely what will happen is the bank will pay off the foreclosing HOA
lien and will keep it current from then on.
Sincerely,
*Michael Avanesian, Esq. *
Avanesian Law Firm
801 N. Brand Blvd., Suite #1130
Glendale, CA 91203
Tel: 818.276.2477 | Fax: 818.208.4550
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On Tue, Mar 15, 2016 at 2:55 PM, Patrick Green pat@fitzgreenlaw.com
[cdcbaa] wrote:
>
>
> This is an issue of NV law. If it was CA, either the lender or HOA would
> have had to have foreclosed. What does the HOA say has happened?
>
>
>
> If you have any questions or concerns, please contact me.
>
>
>
> Pat
>
>
>
> Patrick T. Green
>
> Attorney at Law
>
> Fitzgerald & Green, Attorneys at Law
>
> 1010 E. Union St. Suite 206
>
> Pasadena, CA 91106
>
> Tel: (626) 449-8433
>
> Fax: (626) 449-0565
>
> pat@fitzgreenlaw.com
>
>
>
>
>
> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com]
> *Sent:* Monday, March 14, 2016 2:46 PM
> *To:* cdcbaa ; Strictly Bankruptcy Issues BK@mail.nacba.org>
> *Subject:* [cdcbaa] Lender renting out Debtor's condo in Vegas without
> Debtor's authorization?
>
>
>
>
>
> Ok I don't have the loan docs yet, so I'm not sure whether this was at all
> authorized in event of default, but it appears that the lender and/or HOA
> decided to rent out my client's condo in Vegas without his authorization.
> He's still on title but wants to surrender the condo in the BK and hasn't
> paid a mortgage in 3 years. The lender put a lock on the condo a while
> back, and just recently paid all the past due HOA fees that the Debtor owed.
>
>
>
> What's going on here? Is that legal for them to just go in and rent the
> place out without foreclosing? Whatever rents they are receiving are not
> being credited to the Debtor's loan. We only know someone is living there
> because of some pictures we've obtained. Debtor lives in Idaho, so maybe
> they think he wouldn't notice if someone moved in.
>
>
>
>
>
>
> --
>
> Holly Roark
>
> Certified Bankruptcy Specialist*
>
> *and Sports Lawyer*
>
> holly@roarklawoffices.com **primary email address**
>
> www.roarklawoffices.com
>
> *Central District of California & District of Idaho* - Consumer
> Bankruptcy Attorney
>
> 1875 Century Park East, Suite 600 Los Angeles, CA 90067
>
> T (310) 553-2600; F (310) 553-2601
>
> *By State Bar of California Board of Legal Specialization
>
>
>
>
>
>
>
If you would like an out of the box solution, i.e. probably not going to work, I would say have you client fall behind one month on hoa fees, then purchase the claim from the HOA and foreclose on the property. In Nevada, from what I remember, HOA liens have superpriority meaning they prime the lender's lien.So either the lender will then pay your client + attorney fees, or your client will own free and clear of the bank's lien.Most likely what will happen is the bank will pay off the foreclosing HOA lien and will keep it current from then on.Sincerely,Michael Avanesian, Esq.
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