tag:blogger.com,1999:blog-6392307124116993389.post3367997443683352371..comments2023-10-07T23:32:30.183-04:00Comments on <center>OUR VILLAGE in West Palm Beach </center>: TO FORECLOSE OR NOT TO FORECLOSE - THAT IS THE QUESTIONelainebhttp://www.blogger.com/profile/15724005399643017306noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-6392307124116993389.post-46926927045401436342010-10-28T11:06:50.815-04:002010-10-28T11:06:50.815-04:00Ken, where do you find taxes owed, maybe I had not...Ken, where do you find taxes owed, maybe I had not noticed that, I have the rest. TIAelainebhttps://www.blogger.com/profile/15724005399643017306noreply@blogger.comtag:blogger.com,1999:blog-6392307124116993389.post-58313442038720441802010-10-28T10:06:28.845-04:002010-10-28T10:06:28.845-04:00Randall
You are correct but it was not all luck,he...Randall<br />You are correct but it was not all luck,hehe. I went on line to research the property, such as a mortgage, taxes owed or not, etc. I believe in doing my homework and it turned out well for the Ass'n. We indeed are fortunateKenhttps://www.blogger.com/profile/16720235111720881480noreply@blogger.comtag:blogger.com,1999:blog-6392307124116993389.post-86319334710780745932010-10-28T08:01:27.394-04:002010-10-28T08:01:27.394-04:00Ken,
You are one of the lucky ones. No motgag...Ken,<br /> You are one of the lucky ones. No motgage existed and there were only minor encumbrances, W.P.R.F, Real Estate Taxes, etc. and the assessment delinquencies and closing costs.Randallhttps://www.blogger.com/profile/05273899767108770352noreply@blogger.comtag:blogger.com,1999:blog-6392307124116993389.post-65581786221523470992010-10-28T07:42:47.977-04:002010-10-28T07:42:47.977-04:00I will relate a tale from our Ass'n.
We had an...I will relate a tale from our Ass'n.<br />We had an owner which left because she had to live with her daughter; a 1/1&1/2 upstairs unit, no lift. She tried to sell it with no success for 3 years. Finally, she stopped paying her maint. & WPRF. After 3 months behind, I called her & asked her what was she going to do? The reply was, There is nothing I can do, I have no money. Board met and as an Association, offered to buy the unit, for $1,000 & pick up the payments owed. The unit owner accepted, the Ass'n acted, paid WPRF And sent a letter out offering the unit to all unit owners for what was the cost to the Ass'n. ( Title search, Lawyer fees, etc,) One of our unit owners purchased it, is renovating the unit and to make this story short, no more missed payments. Was it legal ? Was it correct ? I don't know but I do know that our Ass'n is fortunate enough to have no owners in arrears.Kenhttps://www.blogger.com/profile/16720235111720881480noreply@blogger.comtag:blogger.com,1999:blog-6392307124116993389.post-36956715203041924272010-10-28T07:32:06.352-04:002010-10-28T07:32:06.352-04:00Good article Dave,
The question remains, why has t...Good article Dave,<br />The question remains, why has the government not stepped in to make it cost prohibitive for banks to UNREASONABLY delay the foreclosure process. As many of you have heard, the servicers and attorneys for the banks have fraudulently signed over 10,000 affidavits, effectively causing foreclosure actions to come to a standstill.<br />Fines for such action should include criminal prosecution and Licences to Practice Law revoked!<br /><br />The legislature could have made broad and sweeping changes if not for the 2 1/2 billion dollars paid to the Bank Lobby. The system is broken. I believe one judge basically said in his court to the bank attorney, show proof of ownership (promisary note) or forfeit the property! If there were more judges like that, we wouldn't have so great a problem, which will take years to resolve.Randallhttps://www.blogger.com/profile/05273899767108770352noreply@blogger.comtag:blogger.com,1999:blog-6392307124116993389.post-17573963995886672042010-10-26T19:34:49.349-04:002010-10-26T19:34:49.349-04:00Hi Nut, Print the article, give it to all your res...Hi Nut, Print the article, give it to all your residents, put their thinking caps on.<br />Good article thx Dave.elainebhttps://www.blogger.com/profile/15724005399643017306noreply@blogger.comtag:blogger.com,1999:blog-6392307124116993389.post-66468836075342445712010-10-26T18:55:22.274-04:002010-10-26T18:55:22.274-04:00Hi Nut,
October 26, 2010 5:38 PM,
Is there a mort...Hi Nut,<br />October 26, 2010 5:38 PM,<br /><br />Is there a mortgage on the unit, and will it convey to the new owner?<br /><br />If not, and if the price is right, perhaps you could rent it out or sell it at a profit.<br /><br />This is a business decision for your Association to make.<br /><br />The Board should not make this sort of decision in the dark, it is a major step and your unit owners must be involved.<br /><br />Dave IsraelUCO Presidenthttps://www.blogger.com/profile/00719142189397136963noreply@blogger.comtag:blogger.com,1999:blog-6392307124116993389.post-88041231372382192832010-10-26T17:38:45.982-04:002010-10-26T17:38:45.982-04:00David:
What if the owners has walked
away from he...David:<br /><br />What if the owners has walked<br />away from her unit over 3 years<br />ago and our lawyer related to us<br />that the unit is going to auction and wanted to know if we wanted<br />to put a bid on the unit. <br />Should we?The Nutmeggerhttps://www.blogger.com/profile/02337287527531351763noreply@blogger.com