Fight for What’s Right: Affinity Management Services and the Alden Hotel Condominium Prevail Against Fannie Mae
Miami, FL (PRWEB) July 18, 2013 -- When Affinity Management Services began working with the Alden Hotel Condominium, the building was in bad shape and the Association was enduring multiple difficulties. The Miami Beach property had suffered from negligent maintenance: the building’s basement units had a history of flooding; the roof had several leaks resulting in significant damage; the pool hadn’t been permitted properly and was frequently closed due to health violations. Nor was the property up to code—throughout the years, it had been issued several fire safety violations. Perhaps most troubling for the Association, over 40% of the units had been negligent in paying maintenance fees, making it especially difficult to keep the property in good working order.
However, since Affinity assumed management duties in 2007, many of these issues have been resolved. 17 open violations have been reduced to three; three million dollars in outstanding fines are currently under litigation and headed toward resolution; and occupancy is on the rise. Most auspiciously for board members and unit owners alike, the Association just realized a major victory in a foreclosure proceeding against none other than financial giant Fannie Mae.
The case transpired after Fannie Mae took title to a unit after foreclosure. However, the former owner had been delinquent in dues payments to the tune of $122,000—dues that Fannie Mae was refusing to pay. “That’s a significant sum,” says Alden Community Association Manager Raphael Gutierrez, “and even though Members assume it’s a lost cause when dealing with a big bank, we decided to make an aggressive argument on behalf of the Association.”
Affinity Management Services supported the Association in securing the legal services of PeytonBolin, a Florida law firm with specialized expertise in community association law. And through the diligent efforts of the attorneys, the board members, and Mr. Gutierrez, the Association prevailed. While Fannie Mae had attempted to claim “Safe Harbor,”—a legal provision designed to protect first mortgage holders from fees and assessments owed by unit owners of foreclosed properties—the judge ruled that Fannie Mae failed to provide convincing evidence that they were the first lenders.
In fact, testimony from Ever National Mortgage Vice President Alan Proctor directly contradicted Fannie Mae’s claim that the latter was the first lender. According to court transcripts, “The evidence provided by Fannie Mae was unreliable and did not prove that Fannie Mae ever had an interest in the loan.” The Judge’s ruling ordered Fannie Mae to pay all sums owed the Association dating back to 2007, including assessments, interest, late fees, and collection costs. Circuit Court of the 11th Judicial Circuit in Miami-Dade, Florida - CASE NO.: 2012-21212-CA-01 (02).
Affinity Management Services played in instrumental role in achieving this positive outcome. By having the courage to confront a large, powerful company like Fannie Mae, Affinity Management Services was able to support both the legal team and the board members in this difficult process. Mr. Gutierrez was able to work with the Association in compiling and organizing all the financial information that enabled the attorneys to present a compelling case. He also provided members with moral support, helping them to prepare to testify in court, which can be an intimidating experience, especially when the health of the Association depends on a favorable outcome.
Rafael P. Aquino, co-owner and a managing partner of Affinity, says that Mr. Gutierrez displayed the passionate dedication he instills in all of his team members: “I really admire his devotion to this cause. It gives me great pride to see his passionate commitment—not only for the good of the Alden Hotel Condominium Association, but in the best interests of community and homeowners associations throughout South Florida.”
The case has been a huge victory for the Alden Hotel Condominium Association. Not only has it helped to improve their financial situation, it’s given members and unit owners hope that they can fight for their rights and confidence that they will prevail. Says Mr. Gutierrez, “we’re so pleased that the Miami-Dade County Circuit Court sided with Alden in this David vs. Goliath battle. We know that by sharing our experience, we can give hope to those who face similar circumstances.”
Rafael P. Aquino, Affinity Management Services.com, http://www.AffinityManagementServices.com, +1 (305) 325-1006, [email protected]
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