Recently, I’ve found myself repeating the phrase “it’s always darkest before dawn.”
Yesterday I was speaking with a town clerk. Town clerk’s offices across the state tell the tale of the boom and bust of the housing market in the state. The clerk informed me that last year they had over 12,000 filings and this year that number is down to 8,000. The clerk informed me that there has been a significant spike in judgment liens, lis pendens and foreclosure notices and a steep decline in mortgages and transfers.
This morning I saw on the news that the fed is considering a plan to lower rates on 30 year mortgages to a fixed rate of 4.5%.
Is this dawn? I don’t know but I sure hope so.
Ha! My condo association just sent me foreclosure paperwork, and I didn't even realize I owed them money. No notice. The law office who is suing acknowledges they didn't get a return receipt for the ONE letter they sent (certified) but when I didn't respond to something I didn't receive within one month they initiated the suit. Now they're claiming I owe $2,000 in "attorney's fees" on top of the condo fees (which had been raised BEFORE my closing, but I had no idea, since the incorrect amount was on all the paperwork at closing). I wonder if they would have sued so quickly (ONE phone call would have prevented this issue) if the economy wasn't how it is currently?
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Sidney, This is not legal advice, but I am a condo owner. I'm not sure how your situation even happened. I assume you live in Connecticut and you purchased the unit from a unit owner not the developer. If this is the case – CT Chapter 825 Sec. 47-270. Resales of units Clearly states that a unit owner shall furnish to a purchaser or such purchaser's attorney, before the earlier of conveyance or transfer of the right to possession of a unit, a copy of: An extensive list follows including (6) the current operating budget of the association; which should contain the monthly expense. Again I'm not an expert in the legal field (you'll need an attorney for that), but talk to your attorney from the closing to see if maybe there was an error in the association records that caused this mess, and seek his advice to get it resolved. Good Luck.
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I have been living in Panama for two years and during the recession we still have construction going on and no layoffs. It just seems strange for this perspective to see all the sadness "back home."
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RyanMcKeen Reply:
July 15th, 2009 at 1:48 pm
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