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Real Estate & Property Law

: The Home Equity Theft Reporter

Struggling HOAs Use "Reverse Foreclosure" To Mitigate Problems Due To Foot-Dragging Lenders Reluctant To Foreclose On Underwater Condos

By r morris

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Lexology reports on a court ruling that came out earlier this year in Florida on the use of so-called "reverse foreclosures" by condominium and homeowners' associations to stick foot-dragging, foreclosing lending institutions with the title to unwanted underwater units. By doing so, the HOAs put those lenders on the hook for the periodic maintenance payments due to the HOAs that they (the lenders

Full post as published by The Home Equity Theft Reporter on June 29, 2010 (boomark / email).

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