FHA issued Mortgagee Letter 2011-03 on January 5, 2011. This mortgagee letter is beneficial in that it extends the following criteria until June 30, 2011. Concentration Levels: May be up to 100% if The project is 100% complete for at least 1 year and; 100% of units are sold to 3rd parties. OwnerGo to Blog
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In a recent California case, Clear Lake Riviera Community Association v. Cramer, the appellate court found that an association’s building height restrictions were not only valid but that the defendant homeowner had been forewarned of them before building his 2-story house. They also found that the house harmed neighbors by blocking views andGo to Blog
The Colorado Division of Real Estate’s HOA Registration Database is now live and accepting registrations. However, HOAs have a grace period until March 1, 2011 to register online. This grace period was created by the Emergency Rule 4 CCR 725-5 adopted by the Colorado Department of Regulatory Agencies. The Emergency Rule provides thatGo to Blog
In a “sweep” done by the Missouri Department of Natural Resources many associations have been cited for environmental violations that could lead to contamination of water sources within the State. In some situations the cases were referred to the state’s Attorney General because of the seriousness of the violation. The associations who wereGo to Blog
The Fifth District Court of Appeals has ruled that associations may demand when a lender’s foreclosure sale date is set. The court ruled that associations, as junior lien holders, have an interest in the property and the maintenance they perform to the common areas inures to the benefit of the property. Because ofGo to Blog