Here’s the situation:  Borrower stops paying his condo association dues (and perhaps his mortgage too).  The condo association then starts a condo lien foreclosure lawsuit.  The Lender receives notice of the lawsuit, but … it happens to be a securitized trust that is not very responsive, or some other entity like MERS (Mortgage Electronic Registration Systems) was slow to forward notice of the lawsuit to the lender.  The lender may fall asleep at the wheel, or figure that its deed of trust cannot be trumped.  The lender need not worry, right?  Because it can always step in  and “redeem” the property by paying the condo lien amount to the buyer in foreclosure, up to one year from the sale.  WRONG!  Summerhill Village Homeowners Association v. Roughley, 166 Wn. App. 625 (2012) holds against lenders in this situation, relying on the “you snooze, you lose” rule.  Or perhaps more appropriately put the rule is this:  Lenders lack redemption rights in a condo lien foreclosure.  Start with ten or fifteen thousand dollars and start frequenting Sheriff’s sales.  You could pick up a bargain, like Plumbline Profit Sharing Plan did in this case.