When condos face deadbeat unit-owners and the bank, first to foreclose wins.
HABITAT
Showing articles 11 to 20 of 27 results
returned by “Foreclosures”
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ArticleTopicsColumn TypeIssue
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The Foreclosure Race
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The Gambit
With arrears totalling $10,000 a month, a Long Island condo is in the fight of its life.
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When a Transfer Is Not a Transfer
May unit-owners transfer their condo unit when to do so avoids foreclosure in order to pay a debt?
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Common Charge Collection
How to collect common charges from a delinquent shareholder.
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Getting Condo Arrears Before the Bank
Helping a board collect condo arrears before the money is claimed by the bank.
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When the Cure Costs More than the Crime
The decision to pursue legal fees incurred by a board when a shareholder defaults often becomes a larger issue than the original default.
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Default Threat
After years of neglect, how can a co-op prevent defaulting?
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Collecting Condo Arrears
Most boards attempting to collect delinquent common charges face three options: payment plan, sue, or foreclose.
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Abandoned Condo Units, Unpaid Common Charges
Boards should learn that in this economy, standard common charge recovery efforts will not suffice.
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Arrears in a Condo; Benchmarking
Arrears in condos and benchmarking submission requirements for co-ops.
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