Friday, May 16, 2008

You’d have been better off renting love.

Collateral Foreclosure Damage for Condo Owners

Barbara Sanz has never missed a mortgage payment, but the plunge in real estate is punishing condominium owners like her anyway. Four years ago, she bought her first condo in a glassy new Miami tower when the building was filling up. Now nearly one in six residents in the 43-story building is battling foreclosure and their contributions to the building association are shrinking. Each of the remaining owners has had to chip in an extra $1,000 assessment and $50 more a month for cable and Internet. That is on top of Ms. Sanz’s $450 monthly maintenance fee.

Posted by lvmreader @ 05:26 PM (583 views)
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3 thoughts on “You’d have been better off renting love.

  • Hmmmm, those shiny new apartment blocks in Liverpool, Manchester, Leeds, Sheffield, ….. Who will be left paying the maintenance fees when the BTL landlords go bankrupt? Until recently I lived in one such building; out of the thirty apartments only four were owner-occupied!

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  • How many were occupied at all?

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  • would it help to take some pressure off this evolving website if admin created at system whereby posters could communicate one 2 one but still annon?

    just a thought.

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