Earlier today, Dr Gray made a prediction that the upcoming hurricane season will be far more active than normal and that there is a significant mathematical chance of yet another hurricane striking Florida.  The mere possibility of another direct hit should send shudders up the spines of every condominium unit owner.  Insurance rates, already out of control, will no doubt spike higher.  Even greater insurance deductibles than ever before will result in huge special assessments yet again.  Unit owners who already borrowed against the equity in their home may not be able to pull out any more money to pay these assessments and the foreclosure cycle will only repeat.

Having been made aware that a tough season lies ahead, it's certainly difficult defending a decision to waive at least the partial funding of reserve accounts.

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