Condo associations have the right to foreclose based on unpaid dues. Sometimes they go to high bidders, sometimes they revert to the association. This does NOT extinguish any underlying lien. Therefore, the association or the new title holder can enjoy, lease, or otherwise CONTROL the property subject to underlying liens.
THIS IS AN OPEN CALL TO BANKS, MORTGAGE BROKERS, UNDERWRITERS AND REGULATORS TO THE ATROCITIES THAT OCCUR DUE TO LAZY UNDERWRITERS, BAD MANAGEMENT, UNLIMITED PRIVILEGES OF THE BANKS AND NO RECOURSE FOR PROMISES MADE.
The words, the body language, the “deer in the headlights” look when they introduce themselves as a new real estate investor. It’s obvious and they are scared.
This post is about my experience dealing with both AirBNB.com and VRBO.com. Given I have 2 very different kind of rentals, I want to share my experience for your information.