Foreclosures
August 2, 2007
As you know, our foreclosure woes continue in the HOA. A big thank you to Joe & Karen Vance for mowing the yard at 11234 and to Miki Novaria, Pat Jones, Karen Vance, Joan Underwood and Jackie Immele for pulling weeds and mowing the lawn at 11244.
Currently 11244 is due to be purchased by Countrywide Mortgage on August 27 for $704K. Since they are the mortgage holder, we’ll be losing around $2000 on this property. Once the property is foreclosed, then we can refile liens to make sure we’ll collect everything due us starting from the date they take possession.
It appears that 11238 may be selling in the next few days. We’ve received a call from the current owner saying that she has a buyer. She has received a short extension from the lender which has temporarily halted foreclosure proceedings. If this goes through, we should be able to collect everything that she owes.
Foreclosure processing has started on 11234. Right now, the foreclosure date stands for late November. We have received a request from a title company about the amounts due, but it appears that has been no further movement.
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