Help Florida Condo Owners

PLEASE FORWARD THIS PETITION TO EVERYONE YOU KNOW! IT WILL ONLY HAVE IMPACT IF IT GETS LARGE NUMBERS OF SIGNATURES! You do not have to be a condo owner to sign. Any Florida Voter should be concerned about this problem. If you are involved with a condo association & would like copies of the petition to distribute or need to turn hard copies in, contact me at ssmiami@netrox.net. I will be compiling signatures on May 31, 2008.

To:  Florida Governor and Legislators

April 23, 2008

Dear Governor Crist; Lt. Governor Kottkamp;
Senate President Pruitt; House Speaker Rubio;
Representative Robaina; Representative Glorioso:

Unpaid Condo Fees from Foreclosed Units Creating Crisis
for Remaining Unit Owners and Condo Associations; Florida Must Act to Prevent a Potential Domino Effect on Homeowners not in Foreclosure and Wave of Condo Association Bankruptcies

Lost in the swirl of concern over the foreclosure and banking crisis is the looming crisis of unpaid condominium maintenance and assessment fees and the impact on condominium associations and their paying unit owner members.

Condominium associations with severely reduced income cannot meet their budgets and obligations. Florida Statute 718.116(1)(b) frequently results in a large loss for condo associations by the time a first mortgagee completes its foreclosure proceedings.

Tallahassee must act now to protect homeowners and associations and place the burden back on the banks whose risky lending practices created this crisis.

Specifically:

- Section 718.116 (1)(b) (2) must be amended so that all title holders are jointly and severally liable for maintenance and assessment delinquencies and the association lien remains viable against future purchasers.

- Section 718.116 (1)(b) (2) must be amended so that the first mortgagee bears a greater share of the burden of past due maintenance and assessments. This cost to first mortgagees can then be passed on to subsequent purchasers, which will encourage the first mortgagee to expedite the process and encourage quicker resale. Currently the association is unable to intervene and the first mortgagee has no incentive to stop the debt to the association from continuing to grow.

- Section 718.116 (1) (b) must be amended to require first mortgagees who acquire title in foreclosure to keep current with maintenance and assessment obligations which come due subsequent to foreclosure.

Please act now.
Florida condominium owners are struggling and need your help.


Sincerely,


Condominium Owner

Sincerely,

The Undersigned

The Help Florida Condo Owners Petition to Florida Governor and Legislators was created by Florida Condo Owners and written by Stacey Stokes (ssmiami@netrox.net).  This petition is hosted here at www.PetitionOnline.com as a public service. There is no endorsement of this petition, express or implied, by Artifice, Inc. or our sponsors. For technical support please use our simple Petition Help form.