Comments on: What Happens if a Condo Association goes Bankrupt? http://hometryst.com/mark-griffin/what-happens-if-a-condo-association-goes-bankrupt/ MLS Home Search Wed, 11 Jan 2012 02:21:50 +0000 hourly 1 http://wordpress.org/?v=3.0 By: michael mooney http://hometryst.com/mark-griffin/what-happens-if-a-condo-association-goes-bankrupt/comment-page-1/#comment-9131 michael mooney Mon, 08 Aug 2011 02:59:33 +0000 http://hometryst.com/?p=161090#comment-9131 I live in a 104 unit condo in Maryland and our association is currently approaching $100,000.0 in arearages in condo fees with more than 50% of residents not paying their dues. There is serious likelyhood of the association going bankrupt and I am maxed out financially now and can't myself, handle any more anual assessments to cover those that pay nothing. What happens to a those of us that are current on all of our affairs if this association goes bankrupt? The individual units are electrically metered but the water is communal. I can't afford to move out as my property value has already dropped will below what I owe I live in a 104 unit condo in Maryland and our association is currently approaching $100,000.0 in arearages in condo fees with more than 50% of residents not paying their dues. There is serious likelyhood of the association going bankrupt and I am maxed out financially now and can’t myself, handle any more anual assessments to cover those that pay nothing.

What happens to a those of us that are current on all of our affairs if this association goes bankrupt? The individual units are electrically metered but the water is communal. I can’t afford to move out as my property value has already dropped will below what I owe

]]> By: Sarah Thomson http://hometryst.com/mark-griffin/what-happens-if-a-condo-association-goes-bankrupt/comment-page-1/#comment-3612 Sarah Thomson Tue, 09 Mar 2010 15:59:44 +0000 http://hometryst.com/?p=161090#comment-3612 What happens if any condo association, which holds all of the insurance for the structures and exterior, goes bankrupt? What happens if any condo association, which holds all of the insurance for the structures and exterior, goes bankrupt?

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