Fw: Special Assessment

[Nidia Barakat]

My Email to Darlene. --- On Mon, 8/2/10, Nidia Barakat <nid...@yahoo.com> wrote: From: Nidia Barakat <nid...@yahoo.com> Subject: Special Assessment To: "Darlene" <darl...@the-beach.net> Date: Monday, August 2, 2010, 12:14 PM Dear Darlene - I've just learned about the new $500,000 special assessment that the Association is considering, and I want to express my strong opposition to it. I believe the new Distressed Condominium Relief Act (and existing law) gives the Association plenty of new authority to satisfy its debts against the deadbeat owners, without having to collect greater amounts from those of us in good standing.   What's the best way to let the Board know about my opposition to this assessment? Will all the owners be voting to approve this assessment, or only the Board? Please let me know, as I'm very concerned.   thank you, Nidia Barakat

[Marinell Montoya]

Nidia:

The new law only affects mortgages going forward.  Essentially, it is a band aid to shut up condo owners.  All existing mortgages stand on their original terms.  The new law will only help in the next recession.

Marinell #119

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