How likely is the HOA to foreclose in AZ if mortgage is underwater?

Asked 3 months ago - San Tan Valley, AZ

It is my understanding that an HOA lien is junior to the mortgage, which is senior. We are underwater by about $82k. How likely would the HOA be to start foreclosure proceedings when $5k is owed for fees and assessments?

Attorney answers (1)

  1. Paul D Friedman

    Contributor Level 14

    Answered . Without knowing the HOA, it is unlikely that it would foreclose when there is a lack of equity to re-coup the money.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

31,191 answers this week

3,083 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

31,191 answers this week

3,083 attorneys answering