Need Help for Bank “Zombie Foreclosures” in Homeowner & Condominium Associations?

A huge problem for HOA and condo associations over the past 5 years has been “zombie foreclosures.” That’s where a bank starts the foreclosure process on a property and the owner moves out, but then the bank doesn’t complete the foreclosure (no state law requires banks to complete foreclosure within a timeframe). We have seen properties where the bank has taken years to complete foreclosure!    Read the article………………


Tags assigned to this article:
CFPBHOAzombie foreclosures

Related Articles

Can We Get Rid of All These References to the Declarant?

After members take control of the board of directors of their owners association, they often want to amend their declaration and other governing documents and one of the changes they typically propose is the removal of all references to the declaran

Proposed Legislation Would Give Texas HOAs Power to Foreclose Without Court Assistance

Earlier this month, Rep. Kenneth Sheets (Dallas) introduced HB 2928. If passed, this bill would give Texas Homeowners Associations legal

CT: Gov Malloy Signs Heritage Village Condo Voting Bill

Connecticut Governor Malloy has signed into law legislation that would make it easier to defeat an annual budget the state’s