Collections in a Nutshell – Part 2

There’s no escaping it!  Delinquencies are everywhere!  As delinquencies seem to increase, associations are becoming more and more frustrated with the state of their collections accounts.  It is precisely for this reason that boards should become familiar with the collections process and what can and can’t be done under the law. This class will focusGo to Resource

Should Delinquent Owners be Allowed to Vote?

Does your community have an upcoming homeowner meeting that includes voting on issues such as director elections, special assessments, or document amendments?  Assuming your community also has owners that are delinquent in the payment of assessments, do you allow such owners to participate in the vote? Since the number of delinquencies and violations in associationsGo to Resource

Usury and your HOA

Compounding interest, late fees, and processing fees can sometimes lead to claims that the association has violated state and federal usury laws. Usury laws apply only to loans, and homeowners association assessments are not considered loans.  Generally, usury laws should not apply to homeowners association late fees.  However, some courts have disagreed with this positionGo to Resource

The Vicious Cycle of Collections and a Solution: Acceleration!

Situation: On January 10, 2012, your association obtains a judgment against a homeowner for the balance, as of that date, of unpaid assessments, late fees, interest, attorney fees, and costs.   In June of 2012, through a wage garnishment, the judgment balance is collected.  Success?  YES and no. Problem: The homeowner has erroneously believed that becauseGo to Resource
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