Condominium associations are solely dependent upon the collection of assessments from its members for their survival and to purchase and provide the goods and services necessary for the maintenance of the project for the benefit of its members. Thus, when a Co-owner files bankruptcy, there is an understandable feeling that all is lost. Read […]
In a September 2014 ruling, the Nevada Supreme Court jolted the lending community by holding that a homeowners association’s (HOA) non-judicial foreclosure sale can extinguish a mortgage lender’s previously-recorded first deed of trust on a property if that foreclosure is to recover assessments categorized as super priority amounts Read the article……….
Over the last several years, homeowner’s associations and condominium associations across Florida have taken serious losses and written off large amounts of bad debt due to the housing market crash and the flood of mortgage foreclosures following in its wake. Read the article……….