Sheriff Sale is complete, HOA is due 2/5, do I pay it?

[jgordo52]

Long story short, the Sheriff sale was completed 1/15. The bank bought my house for way over what I thought would be the sale price, anyone know how that is calculated? Other homes in my subdivision were going to sheriff sale for 45-50k. Mine sold back to the bank for 166k.

Anyway, it was sold at sheriff sale on 1/15. My HOA automatically comes out of my bank account on the 5th of every month. The confirmation hearing is scheduled for 2/21. Do I have to pay February's HOA payment? I'm in Illinois, which is a pain when it comes to HOA.

Please let me know your thoughts.

Jeff

[tobee43]

yes, unfortunately those fees are not dischargable. they will continue to accumulate late fees and interest, so the sooner you can get rid of them the better.

[NoMoreCards]

In Michigan, Sheriff sale amount is typically the amount owed to the foreclosing bank.

[despritfreya]

Since there is no right of redemption in Illinois, once the sheriff conducts the sale your responsibility to the HOA should end. However, it is possible that the responsibility lingers until a sheriff’s deed conveying the property to the lender is recorded. You might want to make one more payment then instruct the bank to end the automatic withdrawal. If the bank gives you a hard time close the account.

Des.