Pay your bills on time and in full, lose home.

[Darkhorse]

As if there weren't already enough reasons not to buy a condo... I'll be interested in hearing what the courts have to say.

[exploited]

[Southern Dad]

[foadi]

Why don't they just rent out the condo units they currently own?

[Southern Dad]

They may want to sell or develop the building

[Saz]

Nothing wrong with this law and quite frankly most of you seem to be misinformed about the subject. They did not lose money because of the condo developers kicking them out. That money was already lost when housing prices collapsed. Everyone of you seems to be ignoring the other side of a housing price collapse though. It's much cheaper to buy a new place. Yea, the FMV of their home pay be 1/4th of what they paid for the property, but they should be able to go and find another similar property for roughly the same price as the FMV they were paid. If they cannot, then they aren't really getting FMV and should get it reappraised or take it to court. But the fact remains the money isn't lost, since any FMV will enable them to buy a similar property, putting them in roughly the same position as they were before.

Plus, this law is necessary for development. Otherwise you have the lone crazy person or old woman who refuses to sell for any reason and as a result, and entire complex sits neglected and underutilized.

[Winchester]

[eynon81]

[The Dharma Bum]

You buy a house in Florida, you pay the consequences.

[The Dharma Bum]

helps to know what's in the contract you are signing before you sign it