Friday, December 23, 2011

Association Foreclosures are NOT necessary!

Lawyers all over the State are out of control in such filings.  An attorney isn't making any money by NOT encouraging BOD's to file and those vulture lawyers who encourage Boards to jump in and file are doing so less because it is a good legal strategy than to make money for themselves.

We should not be filing these cases, 5% because it isn't real nice to kick Owners when they are down and 95% because it makes no sense to do it as we will never have clear title unless we want to pay off the existing mortgage, take over the taxes and refurbish the unit to rent it out.  We do not have any funds to do these things.  Like the below author I believe in getting rid of the current Owner BOD member and getting a new lawyer.

We have existing liens and can interviene to have any rental income from delinquent condos paid to us rather than the Owner.  I am less impressed by the 'Let's be Neighborly' mantra, mine would probably be 'Let's not be Stupid'.  Here is the article w/link to see the whole thing.
THERE ARE OTHER WAYS!

An Opinion By Jan Bergemann 
President, Cyber Citizens For Justice, Inc.-  Published Dec 17, 2011

Sick and tired of a board that followed the "playbook" of liens and foreclosures established by the attorney. . .  the homeowners of the community association  in Orlando used the annual elections to remove the foreclosure-happy board members from office and replaced them with community members who ran on a ticket of: LET'S BE NEIGHBORLY!

And the new board members . . .  didn't take long to start making the much-needed changes they promised in their campaign. They fired the association attorney and suspended all pending foreclosure proceedings. . . their first order of business:  Talked with all the neighbors with dues in arrears and try to find solutions that enables these owners to catch up with overdue maintenance payments.

Many of the other owners, very happy with the changes in their community, joined a committee that will promote fundraisers to help neighbors in need to deal with the economic crisis. They revived the "NEIGHBORLY" spirit -- and promised this policy will continue -- not only being used for the upcoming holidays. . . (use above link to full article)