STRIPPING COMMUNITY ASSOCIATION LIENS IN BANKRUPTCY: IS YOUR COMMUNITY ASSOCIATION AT RISK?

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 technique, previously used primarily against second mortgages and other junior liens, against community association liens.  […]

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