June 26, 2020 / 12:18 PM / 20 days ago

9th Circuit Gives Freddie Mac gets six years to sue over foreclosure of HOA superpriority lien

The Federal Home Loan Mortgage Corp. has six years to establish that its liens survive foreclosure of state-law “superpriority” liens for unpaid homeowners association dues, a federal appeals court held Thursday.

The 9th U.S. Circuit Court of Appeals affirmed a 2018 ruling by a federal judge in Las Vegas, Nevada in favor of Freddie Mac and its loan servicer, M&T Bank, which filed a quiet title action in 2017 — nearly five years after the Diamond Creek Community Association foreclosed on a residence and sold it to SFR Investments Pool 1, which frequently buys foreclosed properties from HOAs.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/3i6pRDO

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