HOA trying to foreclose first

[frankies_mom]

Long story short we are surrenduring our home. We tried every which way to save it including Chapter 13 but decided it was just too much to take on and were way underwater, no equity.

So we have been saving since August 2010 and planning to move June 15th. We have Wells Fargo and I have been in touch with them to try and do a deed in lieu. The bank has no sale date yet. However, we just received a letter in the mail today from our HOA and they have filed judgement for strict foreclosure (we live in CT). We received this today (Friday) and the hearing is this Monday. No notice.

My question is can our HOA foreclose on us before the bank does? Will we have to leave before we negotiate the deed in lieu with the bank? I am just terrified now that we are going to be thrown out next week. If anyone has any answers or advice I would greatly appreciate it! Thank you!!

[frankies_mom]

if anyone has any info or where should i look or call for more info i would appreciate it. thanks!

[jacko]

If your going to to be vacated by June 15, don't worry about it. Just attend the hearing. In my state, if a HOA forecloses, there is a 6 months redemption before they can get their grubby hands on it. I would inform your HOA, that you have not payed your mortgage since last year and that their is no equity to gain. So what will be the point. I would stay in your house until WF forecloses on you and move during the end of the redemption period. That way you can save more money.

if anyone has any info or where should i look or call for more info i would appreciate it. thanks!