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Can Florida banks be held financially accountable for purposely delaying condo bank foreclosure sales? A new South Florida circuit court ruling says yes.
Amid a growing clamor for Florida banks to bear more of the financial burden caused by widespread condo foreclosures, the Miami-Dade Circuit Court case
settled last week shows an example of associations turning more often to courts for relief from revenue losses tied to the state’s condo crisis. And it could pave the way for other South Florida condo associations faced with stalled foreclosures caused by lenders.
The King Cole Condominium Association in Miami Beach filed a motion against Deutch Bank National Trust Company, alleging it purposely stalled the foreclosure sale of a particular unit.
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