Since our Florida legislators are obviously getting too much money in campaign funds from the banking lobby, the legislature created all kind of band-aids to help the community associations in financial distress caused by the many foreclosures -- instead of making the mortgage lender for their stupidity and greed. Make no mistake: The whole foreclosure crisis was caused by the lending policies of the mortgage companies, allowing people to borrow money to buy homes they were never able to repay.

Every honest banker in the world will tell you that financing 100% plus of the purchase price of a new home is a recipe for disaster. But the US Bankers had no problems doing it – and we all saw the results.

Does it really work? Eric claimed in Monday’s blog that it is a provision that it is a remedy that actually works.

I disagree. Not only has this provision been used for serious fraud – Blanket Receivership Scam – it has as well cost many associations legal fees they were never able to recover.

One of the requirements of this provision is for an attorney to write a demand letter to the renter and – if the renter isn’t paying the rent to the association – to sue for eviction. I have over the years heard from many associations that the renters refused to pay and rather moved out a month or two later, leaving the association with the attorney bill.

In my opinion the party causing the damage in the first place should be held liable for paying .