How would foreclosing make the housing crisis worse? Wouldn't another family purchase the home thus creating a net zero?

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motionlessveloc 2 hours ago | parent | next [-]

It often takes years between "HOA puts lien on house" and "house is foreclosed and sold", and during that time the house is in limbo, the owner can't sell it and buyers can't buy it.

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bigyabai 4 hours ago | parent | prev [-]

Between the foreclosure and sale, who is paying to bring the property up to HOA code?

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weberer 4 hours ago | parent [-]

The party who foreclosed the house and is currently selling it. Who else could it be?

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dcrazy 4 hours ago | parent | next [-]

Why would you assume that? There’s no prohibition on selling a home with code deficiencies as long as you disclose them.

	▲	tyrabound 2 hours ago \| parent \| next [-]
		Not only that, buying these types of HOA foreclosures can also come with other liens that are not disclosed at auction.
	▲	AnimalMuppet 3 hours ago \| parent \| prev [-]
		Right, but such things tend to knock down the sale price by approximately the amount to cure.

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saghm 4 hours ago | parent | prev [-]

Maybe the buyer after the price is inflated by the extra cost that was unnecessarily incurred by the HOA

	▲	gruez 3 hours ago \| parent [-]
		But that waters down the argument to the point of meaningless. For instance, did the egg shortage make the housing crisis worse, because every potential homebuyer has less money to buy a house?