Payback time: Florida homeowners foreclosing on banks

foreclosureQuite a number of HOAs in California have had to face the same prospect  as its fellows in Florida of having one of its members go into foreclosure and stop paying its dues thereby affecting its operating budget, among other things.   Then, to add salt to the wound, after the bank took over it wouldn’t pay dues either.  Now, at least in Florida, the tide is turning and homeowners and HOAs are foreclosing on banks that have failed to pay their dues and expenses on the homes they’ve repossessed.  What sweet justice after all.

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