How it Works
As opposed to hiring an attorney and paying the legal fees that come along with filing liens and foreclosures and waiting the potential three years until the bank forecloses on a delinquent unit to recoup a small percentage of the past due assessments or even taking title to a delinquent unit and "playing Landlord" hoping to recoup your losses prior to the bank taking the unit back, hire Foreclosure Solutions. Essentially Foreclosure Solutions purchases the right to collect delinquent assessments from the Association and provides the Association instant cash in hand for the rights to collect on those particular accounts. Once an agreement is in place, Foreclosure Solutions aggressively pursues the collection of delinquent assessments from either the unit owner, a third party buyer and/or the bank that holds the principal mortgage.
Through our extensive knowledge of Florida Statutes 718, 719 and 720, collection laws in the state of Florida, our vast experience in the Real Estate Industry and our professional working relationship with some of the most predominant condominium and homeowner association specialized attorneys throughout the State, Foreclosure Solutions has been extremely successful in collecting past due assessments for our clients. More often than not, our staff has been able to collect assessments far beyond the twelve months or 1% of the principal mortgage as dictated by Florida Statute.
Eliminating the waiting game and generating immediate revenue for the Association allows your Board of Directors the breathing room necessary to pay vendors on time, avoiding establishing a "bad reputation" amongst service providers; assure that common utilities are being paid without experiencing service interruptions or incurring penalty fees and finally allows your community to make necessary repairs and desired improvements; helping your community to flourish and restore the true sense of community association living at its finest.
We Can Help!
Are delinquent unit owners putting a strain on your Association's operating budget? Is your community suffering at the hands of foreclosures and unpaid maintenance fees? Having trouble making timely payments to your community's vendors?
If you answered YES to any of these questions, Foreclosure Solutions is here to help you today. Many Associations simply do not have the capital to pay the Attorney's fees that come along with filing liens and foreclosures. Financial and lending institutions see the majority of underfunded Community Associations as too much of a risk to approve for short term and long term loans. Levying a special assessment is simply unfair to the responsible few that are still upholding their responsibility to the community and making timely payments, leaving them to pay for those who aren't. Well we believe the Association shouldn't be left holding the bag either.
Foreclosure Solutions was created with the intent of giving community associations a way to fight back and put the onus back on those who are causing the headaches, while providing immediate capital and financial relief to the Association. Say goodbye to your community's bad debt, sit back, relax and let us do the work.
Foreclosure Solutions…Its OK, we can help!