The Long Arm of Debt Stretches into Condo Fees, Car Repos - Deal Journal - WSJ
But deficiency judgments aren’t just for soured mortgages.
Lawsuits are also piling up against borrowers who still owe money to the bank after their car is repossessed, according to lawyers for people sued by lenders. In addition, homeowners living in condominium complexes battered by foreclosures are going after unpaid condo-association fees.
“We help homeowners so they aren’t left holding the bag for deadbeats,” says Ben Solomon, a partner at Association Law Group, a law firm in Miami that has received more than 500 requests in the past year from condo complexes trying to recover fees from homeowners whose condos went into foreclosure.
These collections lawyers are such charmers. Some poor slob who lost his job, can't find another one, and lost his condo to the bank is a "deadbeat." Right.
Thanks to Fred Pilot for this link. Yet another chapter in the sorry history of "affordable mortgages."