[WSBARP] Interest in Property

[Kary Krismer]

There is a case from about 8-10 years ago where the HOA's foreclosure 
wiped out the mortgage debt, but that was due to an unintended quirk in 
the statutory language, such language having since been corrected.

Kary L. Krismer
206 723-2148

On 1/20/2023 9:36 AM, Joseph McIntosh wrote:
>
> Yes, because PC’s interest acquired at HOA sale was encumbered w/ the 
> mortgage.   PC stepped into the shoes of the homeowner.  PC did not 
> acquire any greater interest.  A mortgage foreclosure may result in a 
> redemption right, however.
>
> *From:* wsbarp-bounces at lists.wsbarppt.com 
> <wsbarp-bounces at lists.wsbarppt.com> *On Behalf Of *Jimmy Garg
> *Sent:* Friday, January 20, 2023 9:06 AM
> *To:* WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
> *Subject:* [WSBARP] Interest in Property
>
> Listmates:
>
> Does anyone have any experience with this question:
>
> PC purchased debtor/homeowner’s interest at a Sheriff’s sale last year 
> after the property was foreclosed on by the HOA for failure to pay HOA 
> dues/late fees/interest. Subsequent to that the first mortgage 
> foreclosed on the property and sold the property to another party at a 
> separate foreclosure sale.  Is PC’s interest in property wiped by the 
> subsequent foreclosure by the primary mortgage?
>
> Jimmy Garg, Esq.
>
> Jimmy Garg, PLLC
>
> 300 Lenora Street # 1063
> Seattle, WA 98121
>
> 206-580-3790 (p) 206-736-3218 (f)
>
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