unpaid condo fees

I had read in the Palm Beach Post about this company and wondered if anyone has had any contact with or any useful data/input ----the company pays assns an amt of unpaid delinquent dues and then collects ----all is explained on the site
http://fcfinancialsolutions.com/index.php They do indicate w/come out to assn meeting - would this be a possibility to help all assns with "walk away" condos that are burdening the residents who are stuck paying?

abandoned unit

our assn has a unit abandoned in 8/2008--from public records, there is a huge outstanding $$$ amount on the unit due to penalties etc as well as what appears to be a huge $$$ borrowed/mortgaged ? , liens by utilities, our assn, etc -we do have an attorney and a real estate person working w/us but to no avail ---seems no one can pin down who holds the deed and why no foreclosure/public auction etc ---we have been advised to rent the unit which we deem an unacceptable solution ---I'm certain we are not the only ones in the village in this situation ---if anyone has a suggestion or direction to follow -we'd be grateful ---at our wits end--

REVERSE FORECLOSURES - A NEW STRATEGY

Hi all,
Here is a novel concept worth exploring with your Association Attorney.
Dave Israel

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THIS IS NOT TO BE CONSTRUED AS LEGAL ADVICE

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IT IS MERELY A NEWS ARTICLE

Monday, January 25, 2010

Miami judge grants reverse foreclosure

South Florida Business Journal - by Paul Brinkmann
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Attorneys for the Keys Gate Homeowners Association in Homestead have won a legal victory in a case that could set a precedent for banks that drag their feet in taking title to homes facing foreclosure.
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The Association Law Group of Miami won the case on behalf of the Keys Gate HOA using what it calls a reverse foreclosure, designed to speed up the process of awarding a property to a bank, thus making the bank liable for fees and maintenance, even if the property is vacant.
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Based on the reverse foreclosure procedure, Miami Dade Circuit Judge Jerald Bagley awarded title of a home in the Keys Gate development to HSBC Bank on Jan. 12.
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The home had fallen into foreclosure in 2007. Since then, the home remained in limbo, owned and maintained by the association, but with an HSBC foreclosure action pending for more than two-and-a-half years.
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"ALG's reverse foreclosure procedure will finally help associations force banks to take title to financially upside down units much faster than ever before,” ALG attorney Ben Solomon said in a news release.

As part of the reverse foreclosure, Keys Gate waived its rights to the property and, as the current unit owner, waived its right to public sale. The motion was granted and the clerk of court issued a certificate of title the same day, transferring ownership of the property to the bank. The certificate of title then triggered HSBC Bank's requirement to pay its share of past due assessments, legal fees, court costs and all assessments going forward.
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“This new legal strategy saved Keys Gate a minimum of eight months or more of bad debt write-offs because the association did not have to wait for the bank to get a foreclosure judgment, schedule a foreclosure sale and sell the property at public auction,” the law firm said in the news release.
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The practice of banks holding up foreclosure proceedings is not uncommon and has a huge financial impact on associations that must write off month after month of bad debt until the home is taken off its hands.

See also:

http://activerain.com/blogsview/1457253/reverse-foreclosure-ruling-could-give-embattled-associations-relief-

See also the 3rd District Court reversal decision referenced by Randall in the comment stream at:

http://www.3dca.flcourts.org/Opinions/3D09-1389.pdf

Century Village CONDO OWNERS NEED TO SUPPORT SB 780

The article that is below was given to Dot Loewenstein over 2 weeks ago and I asked her
if my article could appear in the January issue of The UCO Reporter and for some unknown
reason it is not there. I feel that this article is very important for all Associations who have
experienced a unit owner walking away from the unit they own and is leaving all of their
maintenance in the hands of the other unit owners of the Association.

URGENT:
Century Village CONDO OWNERS NEED TO SUPPORT SB 780

Foreclosure Proceedings/Payment of Fees

Dear Century Village Owners:

We need to make sure that Senate Bill SB 780, filed by Senator Evelyn Lynn, will pass
through the legislature and will be signed into law by the Governor. This bill, in short,
demands that banks and mortgage companies are liable for Associations fees owned by
units from the day of the filing for foreclosure or the date that the unit owner walked
away from their unit.

See full text here: http://ccfj.net/PB10SB780.html

We heard in the last few months many complaints from owners and board members
demanding reforms because the many foreclosed units are causing serious budget
deficits and increases of Associations, HURTING ALL OWNERS.

Write Senator Lynn a Thank-You note for filing SB 780. Make sure you say how much
this bill is needed to protect the financial sanity of our community Associations. Here
is Senator Lynn's email address: lynn.evelyn.web@flsenate.gov.

You should also write Senate President Jeff Atwater that this bill is desperately needed
and that it is time to stop protecting banks at the expense of owners. BANKS got bail-
out money, our Associations did not. Tell Senator Atwater that he has to stop killing
bills that will help our Associations. He wants to be Florida's next Chief Financial
Officer. Let him know how strongly you feel about this issue. His email address is:
atwater-jeffrey.web@flsenate.gov.

WE MUST ACT NOW BEFORE THE 2010 LEGISLATIVE SESSION BEGINS.

Lilly Roberts
nbr616@yahoo.com

Banks & Mortgage Co's will be liable for Assoc. Fees

URGENT from CCFJ: Folks, no matter where you stand on association reform -- no matter if you want the boards to have more power or less; no matter if you are a board member or an owner; no matter if you want fair elections or not, you need to make sure that Senate Bill S 780, yesterday filed by Senator Evelyn Lynn, will pass through the legislature and will be signed into law by the Governor!
This bill, in short, demands that banks and mortgage companies are liable for association fees owed by units/homes from the day of the filing for foreclosure. The bill provides for retroactive application.
For full letter click title or -
http://docs.google.com/Doc?docid=0ATalJt5o753oZGZmbThxNzZfMjBmZDI1eHpjZw&hl=en