I recently explained how lucky the banks are when they foreclose on a unit or a home and take back ownership. The law protects them, and despite how much the unpaid condo or HOA assessments are, the bank is only responsible for the lesser of one year of assessments or 1% of the mortgage. Many…
Year: 2020
FORECLOSURES AND WHY OUR CONDOS AND HOAs MAY BE IN TROUBLE
So here is what you need to know in a nutshell: Mortgage defaults are soaring. In fact, homeowners stopped paying mortgages in record numbers in April. It was the largest one month increase ever recorded. Under Florida law, that spells financial disaster for our condos and HOAs. Keep this in mind as you read…
THE COLLECTION PROCESS–PART 1
So this blog will discuss the collection process from the association’s perspective. It will tell you what the association must do if it wants to attempt to collect from an owner who is not paying their assessments. It does not tell you what to do if the bank already started foreclosure proceedings or if the…
CAN I FLY ANY FLAG
In a few days it’s July 4th. Our country’s birthday. USA flags will be flying everywhere, even in our community associations and even if the Board in that association says take it down. With the political upheaval sweeping the country, this year I anticipate receiving complaint about owners or renters displaying flags that are not…
WE'RE STILL THE BESE OF THE BEST
Sorry, but I’m just not interested this week about blogging about condos or HOAs. Not with the devastation I see on my TV. Not with the destruction I see to the city I grew up in. This week, we have larger, national issues to focus on. It simply bothers me when people post that our…
TO OPEN OR NOT TO OPEN
So things are coming back to normal little by little. Although, I still need a dam haircut. If I wait another week or two, I figure my dog and I can go together. To his groomer. The ”emergency powers” given to Boards of Directors expire today. The Governor is allowing public places to slowly re-open.…
BACK TO BUSINESS AS USUAL
On May 20th, 2020 the Secretary of the DBPR entered an Order putting an end to the Emergency Powers that were temporarily granted to directors and officers of community associations, effective June 1st, 2020. So what does that mean? It means, back to the strict requirements of the statutes regarding meetings, notices, the right to…
WOW – THINGS HAVE CERTAINLY CHANGED
I was admitted to The Florida Bar in 1992. In nearly 30 years, it’s amazing how technology has and continues to change both my job as an attorney and yours, as officers and directors. On Thursday, I was a mediator, mediating a dispute between owners and their association. What usually takes place in several conference…
IT'S TIME FOR SOME NEW LEGISLATION
No doubt we have been in unchartered waters for the past few weeks now. Boards have been uncertain about how, when and where they can hold board meetings. Unit owners are upset that they have heard that their Board is actually having meetings that they cannot attend. Decisions are being made at meetings that are…
BINGO!
My how we love to gamble. For some, you don’t even have to leave the community. Perhaps the most common form of gambling in our condos and HOAs is running a Bingo game. Before starting bingo in your community however, here’s what you need to know: 4) The right of a condominium association, a cooperative association,…