This morning, the Consumer Financial Protection Bureau released its federal Qualified Mortgage standard. The new guidelines establish minimum requirements for all mortgage loans which now include association assessments. Lenders are required to prove that borrowers have the financial resources to pay mortgage principal and interest, insurance premiums, property taxes and association assessments. IfGo to Blog
Blog
**Please note this law was updated through HB1125 with respect to publication of owner email addresses and phone numbers with owner consent. In the world of homeowner associations, “transparency” is the word of the day. On January 1, 2013, the provisions of HB1237 concerning association records went into effect. HB1237 amends the Colorado CommonGo to Blog
Get ready for an action packed legislative session! Senator Morgan Carroll is prepared to introduce bills that will give the HOA Information Officer more power and transform the position from a collector of information and provider of resources into an enforcer and advocate for owners, or as Bill Vogrin of Side Streets callGo to Blog
We often times suggest that boards adopt a maintenance and insurance checklist that clarifies whether the association or an owner is responsible for maintaining and insuring various components within a community. The checklist works far better than reading through hundreds of pages in the governing documents and helps address the issues before theGo to Blog
As a non-profit corporation, your association is likely NOT immune from having to report and pay taxes. If you are a board member for an association, it is part of your fiduciary duty to make sure that your association files its federal tax return within 75 days of the end of its taxGo to Blog