Angry condo associations are turning to the courts for help forcing owners behind on their fees to pay up. The courts are responding by holding owners who don’t pay in contempt of cour, and some could face arrest.
The problem of no payment is particularly acute in Florida where condo values have fallen dramatically. For instance, in the Orlando area, the median price of a condo has fallen about 70 percent in the last two years from $156,500 in August 2007 to $49,800, according to the Orlando Regional REALTOR® Association.
Without court enforcement, the associations are likely to go under, leaving the remaining owners with few options beyond abandoning their own properties.
"The current economic downturn and foreclosure crisis have placed many associations on the brink of disaster," says Donna Berger, executive director of the Community Advocacy Network, a nonprofit group representing more than 1,500 condo and homeowner associations.
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