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When will a unit’s Association assessments qualify for LMF?

April 26, 2017assessments Association LMF qualify

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When will a unit’s Association assessments qualify for LMF?

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LMF will fund against unpaid assessments as soon as the grace period for payment(s) has expired, and they are considered delinquent pursuant to Association’s declaration and by-laws. LMF only funds against regular assessments but will collect any special assessments that appear upon the ledgers. LMF can not fund against special assessments since a mortgage foreclosure may wipe these out.