Peppertree HOA to seek protection (NC)
The Peppertree Villas Homeowners’ Association is filing for bankruptcy to disband the association and demolish 14 condominium buildings. The association updated the town council at the regular work session Thursday on its work regarding two condemnation notices, one on nine condo buildings in Peppertree Villas and another for walkways and decks on five other buildings. Joey Propst, an attorney with the Jordan, Price, Wall, Gray, Jones and Carlton law firm of Raleigh, informed the council the association has filed for Chapter 11 bankruptcy in order to notify all the remaining property owners of the condemnations. Read the article………..
A repair company has been at the building much of the day, sweeping up embers and boarding burnt down doors.
A circuit court judge has ordered a Central Florida homeowners association to stop its practice of denying homeowner guests’ entry
Note that Fannie Mae and Freddie Mac have condo requirements that are similar to those of FHA, though less extensive.