Condo Associations have the power to Collect NOW
MORTGAGE FORECLOSURES DON’T TAKE AWAY THE ASSOCIATION’S RIGHT TO RECEIVE CONDO FEES Rhode Island Law provides powerful rights to executive boards to collect up to six months of delinquent condo fees and up to $7,500 in attorney fees and costs incurred in collection prior to the foreclosure. The highest bidder at the foreclosure must pay all post-foreclosure condo fees in a timely manner. Executive boards need to take aggressive legal action...
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