LM Funding, LLC ("LMF") was formed in January 2008 by a group of real estate and legal professionals with over 50 years and over $1 Billion dollars of investment and transactional experience.
LMF buys delinquent accounts from condominium owners associations, pays cash immediately to the associations, and hires a specialized law firm to collect the delinquent accounts that it purchases.
LMF pays all legal fees related to collection efforts.
LMF profits by retaining interest and late fees it collects.
All assessments LMF collects are returned to the Association.
With LM Funding, an association is always better off. We'll prove it.
Based in Tampa, LMF has purchased in excess of $20 million of delinquent accounts receivable from associations throughout Florida.
“Their aggressive collection tactics have brought this Association to a positive cash flow position and avoided a very large and damaging Special Assessment to the unit owners. I also enjoy being able to call an attorney and not worry about being charged.” Diane Lee
President, DLG Management Services, Inc.
Why LM Funding
Florida's building boom, combined with the current mortgage crisis and a statewide economic downturn has resulted in a tremendous oversupply of condominium units. Many condominium Associations are now faced with a variety of issues maintaining the integrity of their communities while owner assessments are left unpaid.
LM Funding Benefits
Immediate Non-Recourse Capital
No Cash Outlay by the Association
Collections Designed for Today's Market
Reduced Need for Speical Assessments
Reduced Collection Costs
How LM Funding Works
LM Funding assists Associations by providing them quick and easy interim capital to offset delinquent assessment balances. LM Funding also assumes all of the collection duties of delinquent assessments, relieving the Association from collection expenses and burdens. With LM Funding, an Association immediately collects delinquent assessments and ensures funding for future assessments.
