FLORIDA – Pinellas condo owners could be forced to sell at a loss

wfla.com: Pinellas condo owners could be forced to sell at a loss
By Shannon Behnken
August 31, 2013
PALM HARBOR, FL – Three years ago, Stephanie Vandenbroeke, a single mother of two, poured her life savings into a condominium at the Madison Oaks in Palm Harbor. She works two jobs and pays her mortgage. But now, a development group from Miami says she and 42 other families have to sell their homes – for tens of thousands less than they paid when they bought at the height of Florida’s real estate market.  The development group wants to terminate the condominium. “You just can’t do this to Americans that have families and work hard,” Vandenbroeke said. “It’s just not right.” This seems impossible, forcing people out of their homes, but this development group claims in documents that the law is on their side. No one representing this group returned phone calls for comment.  Read more:

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