CT ‘captive’ insurance assistance for HOA, condo homeowners with crumbling foundations

Cracked concrete foundation

By Deborah Goonan, Independent American Communities   For several years, IAC has been following the epidemic of crumbling concrete foundations in Connecticut. Many of the homes are part of a PUD (planned unit development with an HOA) or condominium, where two or more units share the same foundation. The cost to replace failing concrete foundations is massive — often as much or more than the home is worth. State legislators continue to find solutions for Continue ReadingCT ‘captive’ insurance assistance for HOA, condo homeowners with crumbling foundations

Condo ownership not so affordable in Darien (CT)

piggy_bank-affordable-housing

By Deborah Goonan, Independent American Communities According to an article in Darien News, owners of 30 units at Clock Hill Condominiums can barely afford to pay their condo and land lease fees, as they struggle to maintain their common property. Condo owners pay $70 per month to lease land from the City of Darien, and an extra $300 per month in condo association fees for maintenance. Most of the residents are living on Social Security Continue ReadingCondo ownership not so affordable in Darien (CT)

CT: Taxpayers could help pay for defective crumbling foundations of HOA homes, condos

By Deborah Goonan, Independent American Communities Today’s post is an update on a serious problem for homeowners in Connecticut — what to do about their crumbling foundations. The problem is widespread in the state, affecting thousands of homes with concrete foundations that were poured in the mid-1980s-1998 by contractors supplied by J.J. Mottes Concrete Company. According to state’s construction experts, the cause of foundation failures is traced to the presence of a mineral in the concrete Continue ReadingCT: Taxpayers could help pay for defective crumbling foundations of HOA homes, condos