Tag Archives: financial mismanagement

Condo Owners Face Uncertainty After Fire Destroys their Home

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By Deborah Goonan Now here’s a report from Warwick, Rhode Island, about a couple who lost their condo building to fire in March 2015. The place was a total loss, and although their insurance company has been paying their rent at a different location for months, James Simmons and Susan Gaipo face numerous obstacles ahead. First, there’s the delayed property tax abatement. Then there’s the fact that Westgage Condominium HOA has not even pulled a Continue ReadingCondo Owners Face Uncertainty After Fire Destroys their Home→

More than 8 months after fire, condo owners still homeless

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By Deborah Goonan Ever wonder what happens if there’s a fire in your condo complex? Fortunately, injuries and fatalities are relatively rare. But I read dozens of reports of condo fires every month, and in many cases, condo residents are displaced. This often presents a hardship for owners whose units have been destroyed by fire or water damage. Typically, the owner-occupant must continue paying the mortgage and condo assessments (maintenance fees), as well as temporary Continue ReadingMore than 8 months after fire, condo owners still homeless→

Homeowners caught in middle of legal dispute could lose their homes

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By Deborah Goonan Now here’s a bizarre situation. Channel 9 News Orlando reports that several homeowners have had liens placed on their homes by One GMA, and, in all, 145 owners are alleged to be delinquent on their assessment payments. But owners say there has been confusion over where to send assessment payments. Many of them have apparently been paying the wrong party. Taking a look at the most recent amendment to an ongoing lawsuit Continue ReadingHomeowners caught in middle of legal dispute could lose their homes→

Keeping track of the money: 35 Ways to Bulletproof your condo association

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By Sara Benson and Don DeBat, authors of Escaping Condo Jail What ALL board members and officers of community associations in America should read: the 35-point bulletproof list of financial procedures detailed in “Escaping Condo Jail“, and consider it a survival manual. 35 Ways to Bulletproof your condo association Using this checklist as a guide will ensure your condo association’s health and your own peace of mind! Share your stories with us! Email us @ Continue ReadingKeeping track of the money: 35 Ways to Bulletproof your condo association→