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When unit owners refuse to pay their assessments, it puts everyone in a bind, condominium assessment liens might be one way?

When unit owners refuse to pay their assessments, it puts everyone in a bind, condominium assessment liens might be one way?

  • Posted: Jul 16, 2024
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Florida Condominium Associations and Homeowners Association Boards have many challenges in managing the needs of their communities. As a result, when unit owners refuse to pay their assessments, it puts everyone in a bind. Fortunately, there is a key tool that you may use in Florida to compel payment of the monies due: a condominium assessment lien.

Collecting Assessment Revenue Through A Condominium Assessment Lien
There are steps that must be taken in order for a condominium association lien to be properly filed. This is a brief summary of the steps:

 

*A condominium association’s governing documents in conjunction with Section 718.116, Florida Statutes, are the genesis of the condominium association’s authority to impose and perfect assessment liens against individually owned units within the community.

 

 

Delinquency Notice

This is not a requirement but good collection practices dictate that the association attempt collection efforts prior to engaging a law firm. Sometimes the unit owner may have just forgotten to place the payment in the mail. These delinquency notices can help remind the unit owner of their payment obligation.

 

Notice of Intent to Lien

The first statutorily required step is to send a formal letter from the law firm announcing the association’s intent to place a lien on the unit for the failure to pay. The letter has very specific requirements and should be sent from the association’s attorney. If a condominium, the association must wait 30 days from the date of this letter to record its lien. The time frame for a Homeowners Association is 45 days.

 

Claim of Lien

This is the actual document that gets recorded in the public records and encumbers the unit. It must have the Unit legal description, the owners name and a description of the delinquency. There is a form in the statute and Florida law requires that this lien be created and recorded by the association attorney.

 

Notice of Intent to Foreclose

After the lien is recorded, another notice must go to the unit owner announcing the intention to take the unit by legal process. The association must also wait an additional 30 days after this notice is sent. 45 days for HOAs.

 

Foreclosure Action

This is the lawsuit that will take the unit. A Lis Pendens is recorded when the lawsuit is filed to provide public notice of the legal action on the lien. Most lien foreclosure actions result in either settlement of the claim of taking of the unit. Defenses to lien foreclose actions are tough to prove and seldom release the unit owner from the obligation to pay the assessment.

 

 

Time Is not on your side, dont delay if this is the action you are taking?

It is imperative that all these steps are followed to the tee or the lien may be dismissed outright. In addition to these steps, Florida condominium associations can take additional steps such as suspending unit owner common element or amenity rights. This is done by alerting the unit owner of the delinquency and then if amount is greater than $1,000 and 90 days the Board may consider the suspension of voting rights at a board meeting. The unit owner will then receive notice of the suspension after the vote has occurred.

 

Florida Condominium Associations

Under Florida State Law, only an attorney may draft a condominium assessment lien, because it contains a legal statement. Once the lien is filed, there is a one year timeline for Florida condominium associations to file suit. If the Association misses that deadline, the whole lien process will have to be redone. Therefore, it is paramount that the steps are followed properly, and in a timely fashion, or you may forfeit what is due to the community.

Remember to contact your Attny, Ask them for the best options for your communities!

 

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HOA Statement of Receivables

HOA Statement of Receivables

  • Posted: Oct 31, 2022
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HOA Statement of Receivables

A statement of receivables, or accounts receivable statement, is a document that details the outstanding charges owed to the community association. This can be from sources such as overdue dues, vendor credits, late fees, or any other outstanding source of income. It is essentially a list of every account that still owes the HOA money.

 

What is in a Statement of Receivables

These statements should contain all accounts that owe money, along with the grand total of overdue funds. The total will help with budgeting purposes. Knowing how much money is available, if collections are being handled properly, can help with financial planning. The list of all overdue accounts can act as a checklist for anyone working in collections to ensure that no account is missed.

Some associations prefer to go one step further and detail which accounts are 30 days, 60 days, and over 90 days past due. For example, if a homeowner has missed their dues in March, April, and May; they will have money in the 30, 60, and 90-day categories. This way, collections agents will know to put more pressure on collecting the April dues versus following up on another account that is only 30 days behind. Just like with all financial statements, the more detail you provide, the easier it is to plan and manage.

 

How Often Should They be Prepared

While the HOA statement of receivables should be prepared at the same frequency as all other financial statements, it is helpful for the accounts receivable statement to be released more frequently. There are even programs available to keep up with AR statements in real time and have them available on demand. This can be immensely helpful for collection purposes to make sure that everyone is on the same page.

 

Need More Information

Financial management can be one of the toughest aspects to operating a successful HOA. If you are having trouble with reviewing financial documents such as the HOA Bank Statements, contact the professionals at CSM. We have years of experience working with homeowner’s associations from all over the United States. Using state-of-the-art technology, we can provide financial management assistance while still allowing association directors to remain independent.

 

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SFPMA’s Maintaining an Condo & HOA General Ledger

SFPMA’s Maintaining an Condo & HOA General Ledger

  • Posted: Oct 31, 2022
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Maintaining an Condo & HOA General Ledger

The foundation of all  accounting is the general ledger. Much like your checkbook at home, the Condo & HOA general ledger keeps an ongoing record of all transactions made by the community association. All other financial statements such as the balance sheet, income statement, and statement of receivables are created based on the ledger.

Unlike all the other financial statements which are prepared on a monthly, quarterly, or annual basis, the general ledger should be continuously updated. Whenever a transaction is made or received, it needs to be accounted for. At any point in time, you should be able to look at the ledger and see how much money the association currently has in all accounts and where money has moved. If you need to go back and see how much the association spent on landscaping in August three years ago, you should be able to find it in the ledger records.

 

Accounting Approaches

There are three basic approaches to manage finances. There is no right method for every association. Each HOA is different and may find that one method of accounting works better for them than another.

  • Accrual – The most popular and preferred method. In an accrual approach, revenues and expenses are recorded when they are incurred instead of when money changes hands. This means that communities using this approach will need to maintain two other ledgers for payables and receivables. For example, when invoices are sent to homeowners for dues, that money is marked down in the receivables ledger. As community members pay their dues, the money in the receivables leger is moved to the general ledger. The same process is used for expenses in a payables ledger. While this may take more effort than other accounting methods, it provides much more detail.
  • Modified Accrual – A mixture of accrual and cash approaches. In modified accrual, revenues get recorded when they are earned while expenses get recorded as money changes hands. Condo & HOAs that use this approach will need a separate ledger for receivables but will document expenses as they are paid in the general ledger.
  • Cash – Transactions are documented on one ledger as money exchanges hands. This is the simplest approach but provides the least amount of detail.

Once you find the approach that works best for your community, stick with it. Switching between different approaches can make reviewing financial information in the future confusing and may hinder your board of directors’ ability to make well-informed decisions.

 

What Should be Included

Depending on the system of accounting, your HOA may have several ledgers running at all times. But no matter the approach, ledgers should include all transactions made by the community association in and out. Each account owned by the Condo & HOA should also have its own ledger. Most associations have at least an operational account and a reserve account.

Regularly checking bank statements is a good way to double check the accuracy of the general ledger. Sometimes transactions can accidentally go unreported or, in some cases, fraudulent activity may occur. Whenever you receive statements from the bank, make sure all transactions match up between them and the general ledger.

 

Need Help Maintaining an Condo & HOA General Ledger

Finances can be confusing. It is always helpful to have a professional on your side to make sure everything is being done properly. If you are having trouble keeping up with all the financial documents necessary to properly manage an HOA, call the experts at CSM. We have years of experience working with homeowner’s associations in almost every state in the US. We offer a wide variety of financial management solutions to give you all the assistance you need while still maintaining your independence.

 

Find top companies working in the Condo HOA and Management industry in Florid on our Directory!

 

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DELINQUENT ACCOUNT COLLECTION FOR YOUR COMMUNITY ASSOCIATIONS

DELINQUENT ACCOUNT COLLECTION FOR YOUR COMMUNITY ASSOCIATIONS

  • Posted: Jul 20, 2022
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DELINQUENT ACCOUNT COLLECTION FOR YOUR COMMUNITY ASSOCIATIONS

The Attorneys and Staff in the Collection Department of Katzman Chandler understand that assessments are the financial lifeblood of every Community Association. With that in mind, we have secured and maintained the finest attorneys and staff to assist our clients in collecting delinquent assessments as quickly and painlessly as possible.

The Partners, Attorneys and Staff at Katzman Chandler have always been innovative and aggressive in the collection of debts owed to its valued clients, and we will continue to be trendsetters in this area.

We want our clients to effortlessly and easily follow the progress of their cases in collection at any given time, and to not only believe, but actually know, that these matters are moving as quickly and as smoothly as possible. With that goal in mind, Board Members and their Community Association Managers are provided 24/7 online access to our interactive website that provides the most recent, as well as a full and detailed history of the status of all collection and foreclosure matters we are handling on their behalf.

As Katzman Chandler’s ultimate goal is to bring a delinquent owner into financial good standing through full payment of all past due amounts owed to the Association, we have also created an online owner portal that may be accessed at any time of the day or night by the delinquent owner. This owner portal makes it simple for your delinquent owner(s) to communicate with us and bring their accounts current. Through this portal, your Association’s delinquent owners, may request a payoff/estoppel, request a payment plan, obtain payment instructions and/or request to be contacted by our Collection Department Attorneys or Staff.

It is our goal to take the worry and frustration associated with the collection of delinquent accounts off of your shoulders. Simply stated, Katzman Chandler is committed to collecting the funds your Community needs, when you need them the most.

 

Katzman Chandler

1500 W. Cypress Creek Road • Suite 408 • Fort Lauderdale, FL 33309

800-987-6518 • info@katzmanchandler.com

 

 

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Why A Specialized Collections Company Makes Sense for Your Community Association by Axela

Why A Specialized Collections Company Makes Sense for Your Community Association by Axela

  • Posted: Nov 19, 2020
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Is a Specialized Collections Company Right for Your Association?

Is your Condo or HOA tired of paying lawyers thousands of dollars to recover hundreds of dollars, less, or even nothing. Well, it’s time to think out of the box and let professional collectors recover that money for you.

by Mitch Drimmer /Axela Technologies

In good times or bad times, community associations (Condos and HOAs) will experience some level of delinquencies that affect the entire association. As a not for profit business your association depends on timely payments every pay period to maintain services to members of the association.  Failure to effectively act on a delinquent account does a disservice to the community and to the delinquent member as well.  By allowing a member to sink deeper and deeper in debt, the association only makes it more difficult for them to remedy their problem.  Engaging a Legal Process (sending the file to your community association attorney) the association may just be incurring additional expenses that eventually will be paid for by the good-paying owners.

Often HOA boards of directors are reluctant to migrate their delinquencies to collection agencies from their community association attorney. This article looks at the key benefits and concerns regarding collection agencies for community associations, examines the current state of collections, and helps associations understand why a specialized collection agency for community associations offers tremendous opportunity to collect their money at very no cost and no risk.

 

The Promise of a Specialized Collections Company

Almost every community association looks towards their community association attorney to manage their delinquencies. Yet community association attorneys are not prepared to do the work necessary to effectuate collections (outbound calls, credit reporting, skip tracing, dedicated inbound call center), and the costs are usually beyond what they recover.  Collection agencies have traditionally been performance-based and will collect their fees and costs only upon a successful collection event.  Collection agencies are concerned with only one aspect of business and that is the successful and cost-effective recovery of maintenance fees and other charges that may appear on the ledger (fines & violations, special assessments).

Operational Excellence and Reporting

The most important feature of an enterprise-level collections solution is its ability to communicate with delinquent owners.  Both inbound calls and outbound calls must be managed by highly trained and accredited specialists. When seeking out a collections company for your HOA ask if there is a dedicated portal for delinquent owners to resolve their issues. Boards of Directors and their management companies need to have access to clear and legible reporting.  Payment applications must be handled according to governing documents and state statutes. Strict compliance with Federal and State consumer rules and regulations is imperative.

Cost Savings

Community Association law firms require payment regardless of the outcome of the file. These costs often are beyond the amounts recovered.  Collection Agencies are merit-based and are only paid upon a successful collection effort.  In the specialized field of collections for community associations boards of directors should not, and in some cases, cannot allow any portion of their maintenance fees to be allocated as boards must be faithful to their association’s budget.  Fees and costs of collections should be charged and passed through to delinquent owners, and in the case of an unsuccessful collection effort these fees should not become the burden of the association (including costs for filing a lien)

 

Concerns Regarding Collection Agencies

It’s easy to see why these key features are the motivators for moving your collections to a specialized collections company and away from a community association attorney.  Yet, many boards of directors are reluctant to change what they have traditionally done in the past, and of course, they will be advised by their own counsel not to remove a collection file from their firms.

FDCPA, TCPA, & FCRA Compliance

Any vendor who performs services for a community association must have the proper insurance to protect the association from liability.  Violations of consumer protection laws should be a great concern.

  • Know and be in compliant with Federal and State Regulations.
  • Report delinquencies to credit bureaus in compliance with the FCRA.
  • Ensure all telephone calls are following TCPA regulations.

A community association must perform their due diligence and be sure that their collection agency is not only bonded but properly insured.  Associations should also be concerned that the customer service representatives of the collection agency are professionally trained and have designations from collection industry trade organizations such as ACA (The Association of Credit and Collection Professionals).

Statutes & Governing Documents (CC&Rs)

Of significant concern to community associations should be a collection agency’s adherence to governing documents and state statutes that relate to condos and HOAs.  Payment application, timelines, statutory compliance to the lien process, and notification are of paramount concern to community associations, especially regarding collections.  Zero defect execution of the collections process must be the standard practice. Collection agencies need to:

  • Perform flawless underwriting of each ledger.
  • Verify property ownership.
  • Impeccably review governing documents and by-laws and understand the state statutes where they are doing collections.

 

Conclusion

With increased scrutiny of the collection industry, it is more important than ever for community associations to engage the right company with the most sophisticated technology that can support their missions.  They should:

  • Compare and document standards, guarantees, and performance levels to ensure that prospective collection agencies are truly best-in-class solution providers.
  • Ask for collection agency references and connect with these references to get a true feel for the providers’ service, product and

It is also imperative that community associations increase efficiency, transparency, and reporting to members of the community.  Collection Agencies that specialize in working with community associations are the best way to go.  The right collection agency just makes sense for communities – Do not allow delinquencies to erode your community.

About Axela Technologies

Axela Technologies is a licensed collection agency exclusively serving community associations in the United States.  Axela Technologies realizes that in the field of collections, community associations have been an under-served industry.  By offering their core product Easy Collect ™ to community associations Axela Technologies has recovered millions of dollars that community associations might have otherwise written off. Give Axela a call today and get a free no-obligation collections analysis today to see if a specialized collections company is right for your association.

 

Axela-Technologies

Axela leverages technology to substantially reduce the delinquency rate in your community associations by increasing efficiency

We Make the Collection Process Efficient

 

 

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Virtual Events are filling the gaps. At Axela, we have done a lot of virtual events in the recent months. Here’s what we’ve learned.

Virtual Events are filling the gaps. At Axela, we have done a lot of virtual events in the recent months. Here’s what we’ve learned.

  • Posted: Nov 09, 2020
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Virtual Events, the New Normal

Pandemic or not, continuing education, training and meetings still need to be conducted.

Virtual Events are filling the gaps. At Axela, we have done a lot of virtual events in the recent months. Here’s what we’ve learned.

 

 
Losing Money Because of Foreclosures?

What do you do when lenders foreclose and your condo or HOA is positioned to lose money? Should you write off lost assessments, or is there another option?

Read the Article
All About Liens

Answers to every question you’ve had (and more you never thought of!) about Community Association Liens in our ongoing series covering the basics of Condo and HOA Collections.

Read the Article
The Cash Flow Fable

A perfect cash flow doesn’t have to be a fairy tale. Simply follow the yellow brick road and let the wizards at Axela help!

Read the Article
Axela Founder Completes Endeavor ScaleUp

Axela Technologies was one of nine companies selected by Endeavor Miami to participate in their 2020 ScaleUp Program. The purpose of this program is “to accelerate the growth of high-impact entrepreneurs.”

Read the Article

 

 

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Pandemic Impact Survey by Axela

Pandemic Impact Survey by Axela

  • Posted: Sep 07, 2020
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Pandemic Impact Survey

by Axela

How are community association financials affected by the pandemic?

Have your community association finances been impacted by the ongoing pandemic? What are communities around the country doing to combat cash flow and delinquency issues that 2020 has brought?

Please take 4 minutes to fill in this survey to share your anonymous feedback on the pandemic impact on your financials. We will be compiling the results to share with all of our readers.

 

 

 

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Condos & HOAs are facing a cash flow crisis. Foreclosure is NOT the answer by Alexa

Condos & HOAs are facing a cash flow crisis. Foreclosure is NOT the answer by Alexa

  • Posted: Aug 27, 2020
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Condos & HOAs are facing a cash flow crisis. Foreclosure is NOT the answer

by Alexa Mitch Drimmer

We need to work with families in a kinder more gentle way to keep them in their homes and at the same time protect our communities.

Contact Axela Technologies for a free collections analysis Learn more at https://www.axela-tech.com

Watch the Short Video!

Community associations are facing a crisis. High delinquencies and increased costs lead to unstable cash flows for condos and HOAs across America. Axela Technologies offers a solution that will help safeguard your community’s cash flow.

Learn more at https://www.axela-tech.com

 

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MORE ABOUT COLLECTIONS By Eric Glazer, Esq. Published August 3, 2020

MORE ABOUT COLLECTIONS By Eric Glazer, Esq. Published August 3, 2020

  • Posted: Aug 03, 2020
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MORE ABOUT COLLECTIONS

By Eric Glazer, Esq.

Published August 3, 2020

 

As promised a few weeks back, we need to discuss some very interesting pitfalls associations sometimes fall into in the area of collections.  In light of the fact that mortgage delinquencies are at an all-time high, rest assured that owners will in a short while begin falling behind on condo and HOA assessments as well.

The association must accept even partial payments.

 

Suppose the assessments are $300.00 per month.  An owner has not paid in 3 months and owes $900.00 plus late fees and interest.  The owner sends in a payment for $300.00.  Must the association accept the $300.00 payment?  YES.

In Ocean Two Condominium Ass’n, Inc. v. Kliger, 983 So.2d 739 (Fla.App. 3 Dist.,2008)  the court held that the refusal of a condominium association and its management company of tendered payments of undisputed maintenance fees by condominium unit owners was improper and rendered premature the association’s lien foreclosure action involving owners’ units..  The condominium statute provided that such payments were to be applied on account, without prejudice to association’s and unit owners’ respective positions.  In this case, the dispute would have been reduced to an inconsequential amount, and association’s attorneys could not in good faith have filed to foreclose the miniscule claim remaining. West’s F.S.A. § 718.116(3).

The association should not worry about restrictive endorsements.

 

Same scenario as above, but this time, the owner writes “paid in full” on the $300.00 check.  Should the association deposit the check?  If they do, are they now prevented from suing for the $600.00 balance?

The condo and HOA statutes each provide the methods by which to apply assessments that are paid.  Each statute makes it clear that they are to be applied in accordance with the statute, and any purported accord and satisfaction, or any restrictive endorsement, designation, or instruction placed on or accompanying a payment.   In simple terms, after applying the payment, the balance is still owed despite the words “paid in full” or similar words being placed on the check.

 

The association must apply the monies in accordance with the statute.

 

Same scenario as above, but the owner has also incurred $200.00 in attorney’s fees, $10.00 in interest and $75.00 in late fees.  How much does the owner owe to the association after making the $300.00 payment?

The statute says……….Assessments and installments on assessments which are not paid when due bear interest at the rate provided in the declaration, from the due date until paid. The rate may not exceed the rate allowed by law, and, if no rate is provided in the declaration, interest accrues at the rate of 18 percent per year. If provided by the declaration or bylaws, the association may, in addition to such interest, charge an administrative late fee of up to the greater of $25 or 5 percent of each delinquent installment for which the payment is late. Any payment received by an association must be applied first to any interest accrued by the association, then to any administrative late fee, then to any costs and reasonable attorney fees incurred in collection, and then to the delinquent assessment.

About HOA & Condo Blog

Since 2009, Eric has been the host of Condo Craze and HOAs, a weekly one hour radio show that airs at noon each Sunday on 850 WFTL.Eric Glazer graduated from the University of Miami School of Law in 1992 after receiving a B.A. from NYU. He has practiced community association law for more than 2 decades and is the owner of Glazer and Sachs, P.A. a seven attorney law firm with offices in Fort Lauderdale and Orlando and satellite offices in Naples, Fort Myers and Tampa.

See: www.condocrazeandhoas.com.

He is the first attorney in the State of Florida that designed a course that certifies condominium residents as eligible to serve on a condominium Board of Directors and has now certified more than 10,000 Floridians all across the state. He is certified as a Circuit Court Mediator by The Florida Supreme Court and has mediated dozens of disputes between associations and unit owners. Eric also devotes significant time to advancing legislation in the best interest of Florida community association members.

 

 

 

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FREE WEBINAR: Cash Flow in Your Community Association by Mitch Dirmmer of Axela / July 22, 2020 @2:30pm

FREE WEBINAR: Cash Flow in Your Community Association by Mitch Dirmmer of Axela / July 22, 2020 @2:30pm

  • Posted: Jul 20, 2020
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FREE WEBINAR: Cash Flow in Your Community Association by Mitch Drimmer of Axela

WEBINAR Florida Register Now

Cash Flow in Your Community Association by Alexa and Guests: Alan Seilhammer, Zed LaCour, and Mitchell Drimmer President, Axela Technologies July 22 @ 2:30 pm – 3:30 pm EDT Register Here If you live in a Condo or HOA, every year the Board of Directors is required to create a budget that will cover all the anticipated expenses (and hopefully they will also fund your reserve budget). If everything goes to plan then your community association is running like a Swiss Watch. If you plan well and accurately, your budget will perform as it should. Yet, as Mike Tyson once said, “Everybody has a plan until they get hit.” Even with the best budgets community associations will be greeted with surprises. Some of these surprises can be natural disasters, significant failures of expensive mechanical installations, an economic downturn resulting in delinquencies, and a host of many other events that are unknown and unpredictable. This Webinar with a Community Association Manager, Banker, and Collections Expert will address what happens and what can be done when a community association finds itself behind from a cash flow perspective. We will discuss how community associations can control and maintain a consistent cash flow.

 

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FORECLOSURES AND WHY OUR CONDOS AND HOAs MAY BE IN TROUBLE

FORECLOSURES AND WHY OUR CONDOS AND HOAs MAY BE IN TROUBLE

  • Posted: Jun 22, 2020
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FORECLOSURES AND WHY OUR CONDOS AND HOAs MAY BE IN TROUBLE

By Eric Glazer, Esq.

So here is what you need to know in a nutshell:

  1. Mortgage defaults are soaring.  In fact, homeowners stopped paying mortgages in record numbers in April.  It was the largest one month increase ever recorded.
  2. Under Florida law, that spells financial disaster for our condos and HOAs.

Keep this in mind as you read this.  Florida law protects the banks.  When a bank forecloses on a condo unit or a home, several things normally happen:

  1. The owner is also not paying the condo or HOA assessments;
  2. The bank foreclosure takes many months and even years;
  3. Even when the bank finally finishes their foreclosure and owns the home or unit, they owe the condo or HOA very little and the association just lost a lot of money.

So why does Florida law allow the condos and HOAs to get slaughtered?  Under Florida law, if the bank winds up owning the home or unit — even if the association has not been paid in years – the bank only owes the association the lesser of one year of assessments or 1% of the mortgage debt.  In sum, it is usually a fraction of what is owed to the association.

 

So why is the law written this way?  Clearly to protect the banks.  The theory is….. if we pass a law and make banks responsible for payment to the association for all of the unpaid dues of the owner they just foreclosed on, banks simply will not lend money to people who want to buy in a condo or HOA.  Maybe that’s true.

If however such a law did exist, all it would mean that banks would have to protect themselves a little more.  They already protect themselves when it comes to real estate taxes.  You know how they make you escrow a year of real estate taxes in advance?  That’s done because real estate taxes have a greater priority than mortgages do.  If the taxes don’t get paid, the county can wipe out the mortgage and the bank would be owned nothing.  So in response, the bank makes you pay the real estate taxes in advance so they’re covered.

Condo and HOA assessments can be treated the same way by the banks if it were necessary but, as you can see, the politicians make sure they the money owed to the county is given SUPER PRIORITY over all other obligations on the property.  Taxes are first in line.  Their money is guaranteed. To the contrary, they don’t care about the money owed to the associations.  I the law were changed, the bank can easily make a borrower escrow a year of assessments if they want to buy that condo or home  so just in case all goes bad, the association is covered. Maybe they can charge an extra quarter of a point in interest as well.  At least  people on fixed incomes won’t have to cover the delinquencies of their neighbors.

So now you know why you get the short end of the stick when foreclosures increase and the economy tanks.  Next week we will tell you what to do about it.

Suffice to say……..there may be a rough road ahead.

 

 

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