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Thursday, October 18, 2012

Attn Condo & HOA's managed by Columbia property manager Legacy Investment closes its doors

Something we started hearing about Monday night is now making it's way into the media and we believe there's a huge pile of rot that will be uncovered once investigators are able to dig into this situation.

According to Legacy’s website, which has been removed, the company launched in 2006 and managed more than 100 homeowner associations, 100 housing units and vacation properties. Baltimore Biz Journel 

This number 100 homeowner associations is the one that caught our eye.  If you think about the size and scope of this disaster with just the bank accounts alone the State of Maryland, these Common Interest Communities CIC, their members, banks and insurance companies are going to need a lot of help to sort this whole thing out.

The 1st thing we can say to CIC involved is to contact your Insurance underwriter.  As well we recommend that you contact the State of Maryland, (coming soon)

Please check back to see updates on this developing situation.