FLORIDA – Foreclosure Crisis Fallout: HOAs Owe Cities Money
CBS12.com: Foreclosure Crisis Fallout: HOAs Owe Cities Money
By Lauren Hills
May 21, 2015
BOYNTON BEACH (CBS12) — The Crossings in Boynton Beach is home to hundreds of people and like so many other places, the housing crisis hit hard.
City officials say in 2010, the development had many homes in foreclosure and those homeowners stopped paying their HOA dues.
“When you’re in a community with foreclosures, even if you don’t have issues with financing personally, other people do, and you have to pick up the dollars if they’re not paying,” said David Merker, Boynton Beach city commissioner.
Ultimately, the HOA racked up more than $125,000 in delinquent utility bills owed to the city. Read more:
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