In the aftermath of the recession and foreclosure crisis, many Florida condominium associations have responded to their collections and budget shortfalls by aggressively pursuing the maximum payoff from new owners. That was the strategy employed by an Orlando condominium association in the recent appellate case of Central Park A Metrowest Condominium Association v. Amtrust REO I.
Amtrust REO, as an agent of AmTrust-NP SFR Venture LLC, which had been authorized to seek foreclosure of a mortgage, foreclosed the mortgage and obtained title to a unit in the community at the foreclosure sale.
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