Extraordinary Remedies: Foreclosures and Receiverships

The typical process for collecting unpaid assessments is to proceed with a lawsuit after an owner has failed to pay off the debt, enter into a payment, or defaulted on a payment plan.  This route, although successful in many cases, does not always provide the desired results.  Thus, associations must look to alternative and extraordinary methods of collecting unpaid assessments.  Judicial foreclosures and receiverships are such alternative methods.  The question becomes which one should the association pursue?