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Foreclosure › Condominium Associations › Property Owners

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
Stark & Stark

Knowing the Difference Between Money Judgment Actions and Foreclosures

Stark & Stark on

Condominium Associations and Homeowner Associations are often faced with delinquencies that negatively impact their financial stability. Determining the best method of collection is crucial to recovering fees due to the...more

Katten Muchin Rosenman LLP

Condo Association’s Foreclosure On More Than Six Months’ Worth Of Assessments Will Leave Lender's Lien In Place Under D.C....

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Courts have long interpreted the D.C. Condominium Act as creating a super-priority lien on a condo unit, in favor of the condo association, for the most recent six months’ worth of the unit owner’s unpaid assessments. This...more

Conn Kavanaugh

Developers Must Explicitly Reserve Construction Right in Phased Condominium Project

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As any seasoned developer knows, condominium development projects involve a delicate interplay between the developer, unit owners, the condo association, and the lenders that fund construction and acquisition costs. Last...more

Saul Ewing LLP

Associations May Be Able to Recover Six Months of Unpaid Assessments From Foreclosure Purchasers Without Filing Suit Against the...

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On June 4, 2018, the Appellate Court issued its opinion in Sylva, LLC v. Baldwin Court Condominium Association, Inc. (“Sylva”) holding that the “initiation of an action” requirement in section 9(g)(4) of the Illinois...more

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