Dear Poliakoffs: We live in a 47-unit condo in Palm Beach County. One of the owners has not paid for maintenance in 10 months. The association pays the water and cable. Can the association under Florida condo law shut off the unit water and cable for nonpayment of maintenance after notification? – P.P.
Dear P.P.: Your question is an extremely frequent one, as many condo associations have common utility contracts.
San Diego-based Excel Trust Inc., a retail-focused real estate investment trust, posted a net loss of $900,000 for the quarter ending Dec. 31 and a net loss of $3.9 million for the year ending Dec. 31.
The year-end results, reported Feb. 23, reflect the period since April 28, the date of the firm’s initial public offering of common stock.
The REIT, which has offices in Rancho Bernardo, ended the year with $1.9 million in funds from operations, a supplemental measure used to gauge the performance of real estate portfolios. The company reported $4.5 million in adjusted funds from operations, accounting for factors including amortization and depreciation.
A company statement said Excel’s board of directors has declared a first quarter 2011 cash dividend of 14 cents per share, compared with 12 cents per share in the prior quarter. The
Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions…
Q. Two months ago I lost my wife to cancer after 28 wonderful years. We have a 15-year $180,000 mortgage at 4.75 percent with about 7.5 years to go and a 15-year second of $79,000 at 7 percent with approximately eight years to go. I will by 58 this year. With my new tax status of single along with the loss of my wife’s income (she worked part time as a para-educator), the two loans are manageable. But they have made me think of going to a 15-year mortgage, combining both loans. Retirement