A group of condominium owners has filed a lawsuit against a bank and developer. The owners decided legal action was necessary when 3 of them could not refinance their loans because the community did not meet the 2009 Fannie Mae underwriting guidelines. The primary complaint is that the bank who sold to theGo to Resource
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Once again, in a move that enables continued negotiations on this important bill, the hearing on the Superlien Bill, HB 11-1197, in the House and Economic and Business Development Committee has been postponed until next Tuesday. We hope this postponement will enable amendments to the bill that are more favorable to homeowners associationsGo to Resource
In part due to the comments from and engagement of stakeholders in the homeowner association industry, the Senate Judiciary Committee today voted 5-4 to indefinitely postpone SB 11-122, the Junior Lienholder Bill. It’s not over yet: the bill can still be brought back this session, and it is likely that the bill’s sponsorsGo to Resource
Good news: the hearing on the Superlien Bill, HB 11-1197, has been rescheduled for Thursday, 2/17/11, at 1:30 pm in the Economic and Business Development Committee. Negotiations led by Community Associations Institute’s Colorado Legislative Action Committee are continuing.
SB11-122 is now set for a hearing in front of the Senate Judiciary Committee next Tuesday morning. As we discussed in our February 1st post , we are not in support of the bill as it is currently drafted. There are continuing negotiations occurring which, if not productive, may mean that we needGo to Resource