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
Collections Resources
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 estate andGo to Resource
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 payment and/orGo to Resource
As a board member or a property manager for an association, you might sometimes feel as if you are participating in a “Choose Your Own Adventure” book. You know the kind, where on every other page the reader gets to choose between two or three options, each eventually leading to one of about forty endings. Go to Resource
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, a trust,Go to Resource