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what happens with condos in forclosure
Fort Lauderdale, FL
Viewed 62 times.
Posted 5 months ago in Foreclosure
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do other tenants have to pay the maintaenance and does bank or morgage co have a responsibility to the board and other owners in the condo
Answers (2)Margery Ellen Golant
This attorney is licensed in Florida and 1 other state.
Posted 5 months ago.
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if the foreclosure goes the distance and a sale is held, the lender has to reimburse the association for 6 months worth of maintenance, and then becomes responsible for future maintenance each month. However, the process does not work very quickly and the associationsare left short. This then causes them to have to increase the burden on the other owners of other units.
H. Dillon Graham III
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