They called the transactions “shareholder loans.” Over three years, Charles Bennett III and Kenneth Marwick moved hundreds of thousands of dollars in condominium association fees into and out of multiple bank accounts they controlled and used for personal expenses, according to an affidavit. Originally from Community Associations Network National
Federal regulators could look into allegations that a Bellevue luxury condo building owner conspired with a major bank to defraud six Central Asian immigrants out of $174,000 in down payments. Originally from Community Associations Network National
The Chicago-based parent of Corus Bank said on Friday that federal regulators could place it into receivership or conservatorship as it announced a preliminary $285 million loss in the first quarter. Originally from Community Associations Network National
The failed First State Bank of Flagstaff was participating in bundled real estate loans across the country, costing the FDIC $47 million in write-offs. Originally from Community Associations Network National
The failure of Chicago-based Corus Bank may further damage the Atlanta condo market. Originally from Community Associations Network National
Many local condos went into foreclosure when owners couldn’t pay up in Seminole County. WFTV found one condo Homeowners Association [HOA] in Seminole County that’s now going to court to protect owners from paying the fees that bank foreclosures owe. Originally from Community Associations Network National
Veteran manager Howard Kupferberg of LCC Realty in Rockville Centre, Long Island, who handles a number of tony buildings in New York City, got a call in early February that was both welcome and frustrating: A bank teller at Chase’s Pelham Parkway branch had had a hunch that something was odd when a woman tried [...]
In Coral Lakes Community Association, Inc. v. Busey Bank, N.A. (2D08-5062), the Second District affirmed the trial court’s conclusion that the bank was not required to pay delinquent assessments due to the condominium association and affirmed the trial court’s entry of a summary judgment in foreclosure. Originally from Community Associations Network National
Condominiums depend on owners of their units chipping in for common expenses like fixing the roof. But what happens when the deadbeat owner next door is a major bank. Originally from Community Associations Network National
Roger and Sharon Harrell share a roof with the condo next door to them, which has been posted as unsafe by the city. Originally from Community Associations Network National
