Condominiums in crisis: Financial troubles put many communities at risk (MD)

For five summers, a tarp has covered the swimming pool at Grand Bel II, a condominium community in Silver Spring that has no money for lifeguards, chemicals or insurance. The Vistas at Washingtonian Woods in Gaithersburg faces $600,000 in repairs but has just $400,000 in cash reserves.  At Saxony Square in Alexandria, an unemployed man nine months behind on his mortgage negotiates with lenders to keep his two-bedroom condo. His neighbors struggle to pay their monthly fees; since 2010, Saxony’s board of directors has filed more than 80 court actions to try to collect such assessments.   Read the article………….


Related Articles

Water rate hikes plague small Pueblo subdivision (CO)

Homeowners in a small Pueblo subdivision are frustrated after they say rate hikes and quality concerns plagued the neighborhood’s water

$3.2M Verdict Spawns New Fight Over Who Will Pay—And How Much (GA)

The widow of a man murdered outside his College Park condominium was awarded $3.2 million by a Fulton County jury,

HOAs: What you need to know about rentals

Q: Can the board limit the percentage of renters in a common interest development? If a certain percentage is reached,