When the housing bubble burst in Florida, about 400,000 homeowners had their mortgages foreclosed on by the banks and lenders that held them. But now the banks are in trouble for not paying dues and other expenses on those repossessed properties. The homeowners and condo associations are now turning the tables on them.
The problem arises mostly from homeowner’s association fees, which the foreclosing entity becomes responsible for – this includes both back fees and fees from the time of repossession forward. But banks are failing to pay these fees.
That puts more of a burden on the homeowners who are paying their fees, and leaves those HAs with not enough funds to take care of the properties. So these groups are putting liens on the properties, now owned by the banks, in an effort to make them pay up.
poetic justice or what, seems the Pres. gets re-elected and the entire right wing falls apart, i'm luvin' it. what goes around comes around, truer words have not been spoken