drbubb Posted January 3, 2011 Report Share Posted January 3, 2011 Florida's Condo Club Wars The move to freeze out those not paying ============================ There's a story about this in today's Asian WSJ, and I thought this sort of problem would interest GEI readers since it is likely to spread around the US and into the UK and other countries as the economic recession goes on and on /more photos: http://www.movoto.com/real-estate/homes-fo...32_D1411421.htm Housing pain pits neighbor against neighbor in Florida Condo association moves to foreclose on residents who are behind on their mortgage and maintenance fees In a nutshell, one resident of the Condo association, Sid Schulman was described as "agitated"... "...it galls him when neighbors stop paying their mortgage and maintenance fees, and leave the cost of upkeep to others. 'I am paying for these guys," said the 75-year-old sitting poolside, a diamond stud in his left ear. Last year he took matters into his own hands. Near the mailbox of each condo building he posted a list of residents delinquent on their maintenance fees, with the message: 'Pay up, or move out!' and the same in Spanish." . . . Thanks to sloppy record keeping some delinquent parties get to stay put longer than others. The condo complex has now installed a finger-print scanning device at the clubhouse, to keep those who are more than 90 days late from using the facilities. . . . "The foreclosure process takes over two years," Mr. Schenkel said, "You can get away with living here free for two years, not paying mortgage and maintenance." The village is abuzz with stories of owners not paying even though they can afford to... Some owners who were renting out their units go into foreclosure while renting then to tenants not registered with the association. And they may be collecting money and not passing it to the association. == == It seems like those with sad stories - such as: "I lost my job" - think that it is fine that others pay for their use of the facilities. Another problem is that easy l;ending of a fgew years ago, pout the condo within reach of middle and lowewr income buyers, and now that they are there they want to maintain their lifestyle, even if they can no longer afford it. Early marketing brochures spoke of: "Seventh Heaven for those who insist on living first class." Who is "in the right" here? This is a big warning for anyone thinking of buying a condo in Florida. Will this sort of problem spread to the UK? Link to comment Share on other sites More sharing options...
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