Today 7 more ‘Lis Pendens’ (Foreclosures) have been filed by the Assn. lawyer Applebaum. This seems like needless churning of fees and these 7 join 4 other Owners who we have recently filed foreclosure actions against.
Of the current 7 we filed on, 5 already have been filed on by banks or mortgage companies and we have liens on all of them, 3 on one condo, 2 liens each on 4 others and just 1 on one condo. Our claims for delinquent dues are protected on all of them.
The filings are needless and at about a profit of $1,500 per filing, lawyer Applebaum will make about $16,500 overall for about 8-10 hours work per condo. Over and above this $16,500, each lien filing has already earned the lawyer $250 or $3,250 for 13 filings. We do not need to be engaging in protracted court actions against fellow Owners. 9 of the 11 units are already subject to foreclosure actions by banks and mortgage companies. What we do need is a new BOD and a new lawyer.
Also see: http://tinyurl.com/6jfu6vk
Filed Unit# Owner Any prior foreclosure filed by
12/12/11 #506 Fred Glass, Prior Filing by Countrywide 6/20/08
Our liens filed: 10/18/11, 12/20/10, 12/3/08
12/12/11 #615 Peachy Gayatin, Prior Filing by Fanny Mae 7/15/11
Our lien filed: 10/18/11
12/12/11 #705 Juan Reyes, Prior filing by EMC Mortgage Corp 12/22/09
Our lien filed 10/18/11
12/12/11 #106 Gulf Front/Jay Davis, prior filing by Wells Fargo Bank 5/24/10
Our liens filed: 10/18/11, 12/10/10
12/12/11 #702 Norman Ussery, prior filing by BAC Home Loans 9/16/09
Our liens: 10/18/11, 8/18/09
12/12/11 #701 Stephen Jarrett
Our liens filed 10/18/11, 12/20/10
12/12/11 #401 John Thomas, this was filed on by a mortgage company but later dismissed
Our liens filed 7/6/11, 3/15/10
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Misc: In an email to our BOD of 11/1/11 I quoted in part the below article asking that the BOD reconsider such foreclosures, I never got a reply. FYI:
Community associations and the rush to foreclose
by: Jean Winters, Esq., Ft Lauderdale Sun Sentinel
October 14th, 2011
"In recent years, no doubt association boards have heard that associations should “beat the bank” to foreclose on assessments. That has never made sense, legally, because a first mortgagee lender whose lien is in first position will have priority regardless of when the association files for foreclosure.
In the last few years, the “rush” to foreclose has looked more like Wile E. Coyote than Roadrunner: “Okay wise guys, you always wanted me to catch him. Now what do I do?” Associations foreclose and take title “subject” to the first mortgage – and cannot sell the property."
Full article at: http://tinyurl.com/85mdogo
