Resources

What is the “Robo-signer” Foreclosure Scandal and Why Should Associations Care About It?

Filed Under Collections, Foreclosure

Posted September 17, 2011

Recently, several major national lenders have responded to the so-called “robo-signer” scandal by announcing either freezes or new procedures relating to foreclosures in various states, including Colorado. The scandal revolves around the admission by several low-level employees at national lending institutions that they routinely signed affidavits necessary for banks to complete foreclosures without having anyGo to Resource

What in the World is a “Stip?”

Filed Under Collections

Posted September 17, 2011

“Stip” is common slang for “Stipulation.” A “Stipulation” is a legal term that generally identifies a written document that sets forth the agreed upon terms and conditions of a settlement between two parties to a lawsuit. In the realm of community association collection actions, that generally means a settlement between the delinquent owner and theGo to Resource

Ways to Address Increasing Foreclosures and Delinquencies

Filed Under Collections, Foreclosure

Posted September 17, 2011

At the recent Law Seminar of Community Associations Institute, over 500 attorneys from across the country met for two days to discuss a wide variety of issues, especially the economic conditions facing associations. Here is a list of techniques that are being used by associations to address increasing delinquencies and foreclosures: Budget for bad debt.Go to Resource

Usury and Unpaid Assessments

Filed Under Collections

Posted September 17, 2011

Generally, usury laws should not apply to homeowners association late fees. However, some courts have not agreed. Usury laws apply only to loans and homeowners association assessments are not considered loans. However, homeowners and/or their attorneys occasionally attempt to argue that an association’s interest and late fees are usurious. In order to fully protect anGo to Resource

Understanding Your Collections Status Report

Filed Under Collections

Posted September 17, 2011

Understanding what is happening with your association’s delinquent accounts at Altitude Community Law is probably one of your board’s top priorities in these tough economic times. One tool for you to use in fulfilling your fiduciary duty with respect to managing the financial assets of your association is our status report. We produce a statusGo to Resource

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