Wex Legal Dictionary
If you’re a buyer considering a foreclosure purchase, be sure you’ve evaluated the advantages and disadvantages of this type of transaction first. Homeowners in pre-foreclosure could come up with the money to put their loan back in good standing; a lender might be dissatisfied with the offers at auction and take full ownership of the home, potentially waiting months before offering it for sale as a REO property.
If it has not already done so, the holder of your mortgage must file proof that it owns title to the security instrument related to the real property with the clerk of the superior court of the county in which the real property is located, prior to the start of the foreclosure sale.
He’s also a powerful state senator who chairs the Committee on Business and Commerce and who, back in 2001, authored the law that enshrined pro-industry HOA foreclosure practices in statute, ensuring that associations like Brookfield’s could continue to aggressively collect fees and dues from homeowners.
That’s why Associa sits atop an ever-expanding pyramid of companies that Carona has created to cash in on all the ancillary services his HOA clients need: an insurance agency selling liability and property casualty policies, a document-production company that provides the records needed when homes are bought or sold, a 24-hour maintenance service for house repairs and upgrades and a collections company that targets delinquent homeowners.
In accordance with State law, property taxes become delinquent on January 6 for the current fiscal year, which runs from July 1 through June 30. Past due taxes are subject to enforcement measures including, but not limited to, garnishment of wages and bank accounts, levy on personal property, foreclosure of real estate, attachment of current and future state income tax refunds and attachment of lottery winnings.