Why not buy a house and then foreclose on my under the water condo?We bought a condo in 2005 for 500K. Now similar condos in the building go for 270K (foreclosures and sort sales). In addition, the builder is being sued by the HOA, so all sales must be cash only. In other words, it's hopeless. To make mather even wors, we cannot even rent our condo out as the HOA doesn't allow it. We have money. Why not buy a nice house first, then transfer the house deed to my family, then foreclose our condo?April 25 2010 - San Jose00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.