The Real Deal Miami

Condo and home groups pessimistic on foreclosures

December 16, 2009 12:42PM

A poll by an advocacy group showed that nearly all Florida condominium and homeowners associations believe foreclosure numbers will rise or stay the same in 2010. About 86 percent of these associations offered a negative 2010 outlook in a survey by the Community Association Leadership Lobby, or CALL, a group that lobbies state legislators on behalf of condominium and homeowners’ associations, and said the financial burdens on their communities would increase. The report cited long delays by banks that have foreclosed on properties, saying units that can’t get to the market can’t help generate income for condominium and homeowners associations. [UPI]