6th Circuit Bankruptcy Panel Rules that Condo Association May Reschedule Pre-Petition Foreclosure
Federal 6th Circuit Bankruptcy Panel issues favorable ruling for foreclosing on condominium liens.
Federal 6th Circuit Bankruptcy Panel issues favorable ruling for foreclosing on condominium liens.
Condominium associations are solely dependent upon the collection of assessments from their members for their survival and to purchase and provide the goods and services necessary for the maintenance of the project for the benefit of its members. Thus, when a Co-owner files for bankruptcy,
As the housing market continues to slowly recover from the foreclosure crisis in Michigan, and other areas of the country, many community associations are still facing significant challenges with unit owners who file for personal bankruptcy. Numerous unit owners are beginning to utilize an old
