How should we expect LMF to treat condo owners in regards to making late payments, assessing interest, and fees, filing claim of liens, and taking foreclosure actions against condo owners?
LMF engages its attorneys to enforce all rights provided to the Association by its declaration, by-laws, and Florida Statutes. Florida Statutes dictate the necessary notices required to collect, lien, and foreclose against a delinquent unit. LMF’s attorneys will not compromise any assessment collection without the consent of the Association. LMF requires that its attorneys be firm but respectful in their efforts to collect delinquent accounts. All communication with owners is done in writing to ensure the accuracy of communications. While no amounts owed are compromised without the Association’s consent, if an owner has a willingness and ability to pay assessments on a current basis, a payment plan will be offered where the entire outstanding balance can be recovered in approximately twelve (12) months. LMF’s agreement with its attorneys requires that when a payment plan is in place and current, no additional legal fees will attach to the account. This ensures the Associations recovery
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