FLORIDA – Florida House Bill 1061 is dead. Measure could’ve helped homeowners stay inside their homes

WPTV.COM:  Florida House Bill 1061 is dead.  Measure could’ve helped homeowners stay inside their homes
Next chance for bill to be considered is next year
By Marissa Bagg
April 17, 2014

BOYNTON BEACH, Fla. – The days that Bob Domanick and his neighbors can sit at their condo pool in Boynton Beach may be numbered. Each one may be forced to sell their units back to the company that owns the property. “It’s just not fair, these are our homes, we pay our mortgages, and insurance and we’re told we have to leave,” said Dale Domanick. A glimmer of hope that House Bill 1061 would help – was crushed. It didn’t make it to the next legislative session that begins Monday. “It did not get to the subcommittee while we were still holding those hearings, and so the bill is most likely dead,” said State Representative Lori Berman.

As the law stands now, if a company owns 90 percent of the condo units on a property, it can purchase the remaining units for fair market value. The problem for these residents is that fair market value is a far cry from what they paid for their homes in 2006.  Read more:

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