Monday, April 09, 2007

Condo Communities Hit by Mortgage Probs

Condominium communities traditionally charge community fees ranging from $25 to well over $200 p/month for maintenance, lawn work, and more. But according to today's Tennessean, condo associations are feeling the crunch caused by subprime loans because owners are unable to pay the monthly charges. As a result, they are dipping into reserve funds to pay for new roofs and other services offered by the associations.

Read about the problem in the article here.

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