The Real Deal Miami

Condos get little help

June 04, 2009 03:02PM

Although financially strapped condominium associations remain on the forefront of South Florida’s housing crisis, state budget woes eclipsed the possibility of relief and help in the recently completed legislative session. Ken Direktor of the law firm Becker & Poliakoff said laws that would help force banks to foreclose on units and squeeze entire developments to make timelier contributions for real-estate owned units didn’t get enough sponsorship to make progress. The bank lobby was able to fend off those efforts, he said.