How would you answer the million-dollar condo question: What can be done to keep community associations financially afloat in face of widespread foreclosure and owner delinquencies? Originally from Community Associations Network National
“These particular units in this association are the worst I’ve ever seen,” said Kathy Bramhall, who manages the complex for a company called Condominium Associates. “The units are uninhabitable and would cause respiratory problems for anyone living in a surrounding unit.” Originally from Community Associations Network National
He calls it a mortgage terminator. He demanded Citibank to foreclose on unit 14 in Martinez’s building. Surprisingly, instead of an 18 month legal fight, Citibank wrote off the debt, and handed the title over. Originally from Community Associations Network National
Condo association’s ability to pull back from the brink of financial ruin offers something of a lesson in survival Originally from Community Associations Network National
Foreclose – or else. That’s a new message being sent to banks by a lawyer representing condo associations in Florida. Originally from Community Associations Network National
Nearly half of the homes at Regency Square Condominiums in North Charleston, a 110-unit complex near Charleston Air Force Base, are winding through the lengthy legal foreclosure process after the owner who converted them from apartments couldn’t find buyers. Originally from Community Associations Network National
The economic downturn and flood of foreclosures have taken a toll on Florida community associations, which have turned to self-management or negotiated to pay property managers less to deal with the bills, a new survey reveals Originally from Community Associations Network National
At a time when mortgage lenders are taking more than a year to complete foreclosures, Judge George C. Paine II has ruled that Bank of America has consented to the sale of a flood-damaged Bellevue condominium through its inaction and must wait in line behind a homeowners association to get paid. Originally from Community Associations [...]
At a time when mortgage lenders are taking more than a year to complete foreclosures, Judge George C. Paine II has ruled that Bank of America has consented to the sale of a flood-damaged Bellevue condominium through its inaction and must wait in line behind a homeowners association to get paid. Originally from Community Associations [...]
Foreclosure rates have been at historic highs since the bursting of the real estate bubble several years ago. The market has been left extremely volatile, and no better indicator of this is the recent national increase in gas prices. While there are certainly other factors that attribute to the delinquency of mortgage payments, unexpected burdens [...]
