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

[Medius]

[Philly]

[Medius]

[Professor]

Facts of the story, minus any emotional appeal:

- She bought a condo for market value of ~$240,000
- She paid cash for most of it
- Several years later, the owners of 80% of the condos decide that they want to convert to rental apartments
- Law says that 80% owners may do this, provided that they buy all of the properties at current value
- The 80% owners offer to pay her the assessed value of the condo, which is ~$47,000

Yeah, I get it - it sucks. But, that's the chance you take when you
A) pay cash for something (at least she's "even"; if she'd taken out a massive load, she might even be in debt)
B) buy a condo
C) are subject to market forces.

[Southern Dad]

[Winchester]

[Saz]

[Southern Dad]

[Professor]

Wait a sec - I totally remember that fiasco!

Lots of condos (many friends owned them) on the Gulf Coast (Pensacola to Panama City Beach) were destroyed. The owners (mostly out-of-towners) didn't want to spend the money to rebuild them (it's a 2nd or 3rd home for them). So, they just sat. But, the few people that actually lived in them DID want to rebuild. But, without the majority of homeowners willing to do any one thing, nothing happened.

To the case at hand - so, 90%+ of the condo owners in her complex were OK with this? And she's the lone holdout? Sorry - not a whole lotta sympathy for people like that.

[Tejada]