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Florida Condo & HOA Legal Blog News & Updates on Condo & HOA Laws & Legislation in the State of Florida

Category Archives: Foreclosures

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Money Judgment An Alternative To Foreclosure In HOA

Posted in Assessment Collection, Foreclosures, Reader Q&A

Question:  “My question is whether a homeowners’ association can sue to foreclose for delinquent assessments, but also ask for a money judgment if there is no equity in the property due to a superior mortgage where more is owned than the property value. P.M. (via e-mail) Answer:  Yes. Florida Statute §720.3085 allows an association to… Continue Reading

All Assessments Due Association If A Third Party Purchases A Unit At A Foreclosure Sale

Posted in Assessment Collection, Foreclosures, Reader Q&A, Safe Harbor

Question: We have a unit in our condominium that will soon go to a mortgage foreclosure auction. This unit owes the association tens of thousands of dollars in unpaid assessments. What is the maximum amount we can recover from the purchaser at the foreclosure sale, as I have been given conflicting advice?  S.S. (via e-mail)… Continue Reading

Condo cannot collect safe harbor from mortgagee after foreclosure

Posted in Assessment Collection, Case Law & Court Rulings, Foreclosures, Safe Harbor

Court explains “safe harbor” and says: “individualized charges, such as interest, late fees, collection costs and attorney’s fees do not fit within the statutory or common sense understanding of “regular periodic assessments” A little more than a year ago there was a huge debate over the interpretation of the “safe harbor” language in §718.116, Florida… Continue Reading

New Foreclosure Law Benefits Condos & HOAs

Posted in Foreclosures, Legislation

Gov. Rick Scott signed House Bill 87 on Friday.  The new law takes effect immediately and is intended to speed up the foreclosure process.  Yeline Goin’s take was published by the local newspaper in Tallahassee.  Read the article by clicking below: Yeline Goin: Foreclosure bill offers benefits for associations.  

UPDATE ON WEBINAR AND UPDATE ON CONDO AND HOA AND MORTGAGE FORECLOSURE BILLS

Posted in CALL Alert, Foreclosures, Legislation

Update from CALL Executive Director, Yeline Goin: First, I want to thank everyone who participated in our Legislative Webinar last week and in particular Representative Moraitis for being a part of the Webinar and for providing special insight into the bills and the legislative process.  We had a record number of attendees on the Webinar… Continue Reading

Court Imposes Deadlines in Foreclosure Cases

Posted in Assessment Collection, Foreclosures

The Palm Beach County Circuit Court recently issued an Administrative Order requiring lawyers to account for their foreclosure cases and move them along. Administrative Order 3.313-2/13 requires the attorneys foreclosing against properties to identify all cases filed in the 15th Judicial Circuit according to the following deadlines: Case Filed Deadline for Filing Case Status Update… Continue Reading

Condo Cannot Collect Past Due Amounts from Investor After Foreclosure

Posted in Assessment Collection, Case Law & Court Rulings, Foreclosures, Owner Payment Responsibility

   Association becomes liable for past due assessments upon  acquisition of title. According to Bankrate.com., in 2012 it took an average of 382 days for a lender to complete a mortgage foreclosure in the United States.  However, that statistic includes states with the non-judicial foreclosure procedures and states that have very few foreclosures. Florida is not one of… Continue Reading

FHA Announces New Procedures to Account for Condos & HOAs

Posted in Assessment Collection, Foreclosures, Mortgages

FHA issued a new Mortgagee Letter last week.  It requires foreclosing lenders to recognize and communicate with a community association, especially if the association already liened the property. Condominium and Homeowners’ Association leaders often complain about lack of payment on the part of mortgagees that take title as a result of the foreclosure.  Many of them are not willing to wait… Continue Reading

Mortgage Termination Lawsuits Do Not Give Associations Clear Title

Posted in Assessment Collection, Foreclosures

  The largest title insurance company in Florida (Attorneys’ Title Fund Services, LLC, also known as “The Fund”) recently published an opinion by its underwriting counsel cautioning attorneys and title insurance companies against closing and insuring any transaction where the association’s title was obtained through a “mortgage terminator” lawsuit. What is a “mortgage terminator” lawsuit?… Continue Reading

Liability for Pre-Foreclosure Assessment Discussed

Posted in Assessment Collection, Foreclosures, Reader Q&A

We recently purchased a property out of a mortgage foreclosure case. The association was a party to the lawsuit. When we researched the property, we did not find a lien recorded by the association. Now that we own the property, the association is demanding that we pay past-due assessments that came due before the foreclosure. Are we liable for these charges?

Fannie Mae Annouces it “Know Your Options” Awareness Campaign

Posted in Assessment Collection, Foreclosures, Operations

Struggling with mortgage payments?  If so, look for information from Fannie Mae before giving up.  The Fannie Mae “Know Your Options” campaign uses TV spots to reach struggling borrowers, encouraging them to visit KnowYourOptions.com and call a toll-free phone number. Fannie Mae volunteers will use the information provided by callers to document and route their cases to Fannie’s Mortgage Help… Continue Reading