Stiffed Condo Associations Now Target Deadbeat Lenders With "Unpaid Maintenance Fee" Lien Foreclosures On Units Already Seized By Banks

In Sunny South Florida, The Wall Street Journal reports:

• As more condominium owners default on home loans, the amount of unpaid dues owed to condo associations is piling up. To collect the arrears, some condo boards have begun foreclosures on units already seized by banks. While it is common for banks to foreclose on properties, any entity with a lien on a property can do the same. That includes condo associations, which have used the tactic to collect from owners who don't pay dues -- or to oust them.

For more, see Condo Boards Take On Lenders (Chasing Unpaid Dues, Associations Are Foreclosing on Units Seized by Banks) (requires subscription; if no subscription, try here, then click link for the story).

In related posts on the legal battles being waged by condominium associations in buildings loaded with foreclosures and non-maintenance-fee-paying unit owners, see:

• Miami Judge Gives Struggling Condo Associations New Tool In Battle Against Rent-Skimming Unit Owners Delinquent On Maintenance Fees,
• Miami Judge Orders Foot-Dragging Lender To Foreclose & Take Title To Condo Or Start Paying Maintenance Fees.