hornadylnl
Shooter
- Nov 19, 2008
- 21,505
- 63
The senior lienholder couldn't keep the junior lienholder from asserting it's foreclosure rights, but the senior holder has to be paid first. If the senior holder thinks the property will go less than enough to pay it off, they can pay the junior holder to preserve the collateral and avoid a forced sale. That's often the case with mechanic's liens.
Yeah I'll rush right out today and take care of that!Buy 27 acres in BFE and you won't need an HOA. I have to look between trees to even see siding on my nearest neighbors house. No way would I live in an HOA.
question here. Lets assume there are 10 houses on one street. They've been there anywhere from 1-30 years (when they were built). If 6-9 of the homeowners want to form an HOA, can you be forced into it or can you tell them to get bent?
You can tell them to get bent, so long as you never signed a contract nor does the neighborhood have a provision for starting one. My home was built in '66 and there are a mix of homes built from that era all the way up to a home built about five or six years ago. The people I purchased the home from had left the deed that goes all the way back to 1827 and shows John Quincy Adams selling my lot as part of 160 acres that were owned by the USG. I was reading this 1" thick stack of various legal papers (there were lawsuits and what not over the land) and I think somewhere in there, where it showed the old lady who owned all the lots, it stated something about starting one up if the residents wanted. There was an expiration clause as well as a clause that said people don't have to belong and pay a membership fee if they don't want to.