The Vicious Cycle of Collections and a Solution: Acceleration!

loading… 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 thatGo to Resource

Short Sales and Homeowner Associations

loading… A short sale is a sale of an owner’s property where the proceeds from the sale will fall short of the balance of debts secured by the liens against the property. Nevertheless, because the owner cannot afford to repay the entire amount, the lien holders agree to release their liens on the real estateGo to Resource

Using Outbound Calls to Collect Delinquent Assessments

loading… At Altitude Community Law, we take collecting delinquent assessments serious. Did you know that we have dedicated a full-time experienced collector who initiates contact with delinquent owners by making daily outbound calls for files on our Risk Sharing program?  Tom Walters, our collections specialist, has over 20 years of experience actively pursing full paymentGo to Resource

Collections Options for Properties Owned by LLCs, Trusts, and Estates

loading… Most properties are owned by individuals.  Collections for unpaid assessments due from individuals generally involve lawsuits against the owners, leading to wage garnishments, bank garnishments, or tenant garnishments.  However, occasionally a board is faced with attempting to collect unpaid assessments on a property owned by another type of owner, such as an LLC, aGo to Resource
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