Earlier today, the Colorado legislature voted in favor of SB21-002, a bill that impacts Associations’ ability to collect unpaid assessments. That bill is headed to Governor Polis and is expected to be signed into law shortly. So what does this mean for you and your Association’s delinquencies? Luckily, it doesn’t change much. At the endGo to Article
Boards are often not focused on delinquencies during the last few months of the year. Annual meetings and budget planning take up a lot of time and so do the holidays when we are all focused on friends and family. On top of that, many boards have been dealing with questions about COVID-19 over theGo to Article
When a Board becomes aware of a Public Trustee foreclosure proceeding, their first question is usually “What does this mean for us?” If the homeowner is delinquent in their assessments, then the Association has a lien against the property. Assuming it is the first mortgage foreclosing against that homeowner (as opposed to a second mortgage),Go to Article
