Resources

Bankruptcy Overview

Filed Under Collections, Litigation

Posted September 15, 2011

Bankruptcy is a means by which a person seeks relief from debt. The bankruptcy laws come from a long tradition of allowing people debt forgiveness and,in certain circumstances, freedom from debt. The bankruptcy laws are federal and are found primarily in Title 11, Chapters 7 and 13 of the United States Code. A bankruptcy doesGo to Resource

Bankruptcy FAQs

Filed Under Collections, Samples, Forms, Checklists

Posted September 15, 2011

Q: What do I do if I receive a Notice of Bankruptcy Filing? A: You should inform your collections attorney immediately if you receive notification that a homeowner has filed bankruptcy. If we have an active collections file against the homeowner, we are required to suspend further collections efforts against the homeowner while the bankruptcyGo to Resource

Assignment Of An Association’s Lien In Foreclosure

Filed Under Foreclosure, Litigation

Posted September 15, 2011

This article briefly describes the benefits of and process involved in assigning an association’s lien to a third party during a pending foreclosure action. Associations in Colorado have a lien against properties for all unpaid assessments, late fees, fines, interest, and attorney fees and costs. Colorado’s Common Interest Ownership Act (“CCIOA”) provides that associations haveGo to Resource

Association Use Of Judicial Foreclosures

Filed Under Foreclosure, Litigation

Posted September 15, 2011

The Denver Post recently reported that Colorado has the dubious honor of leading the country in the number of foreclosures. This unfortunate distinction is particularly unwelcome news for Colorado’s community associations. If an association declines to exercise its redemption rights when a first mortgage holder forecloses, the association is limited to recovering just 6 monthsGo to Resource

Checklist of the Top Foreclosure Cues

Filed Under Foreclosure, Samples, Forms, Checklists

Posted September 15, 2011

Foreclosure of an Association’s assessment lien is an important tool in the collections arsenal. Of course, not every property in every association may be an ideal candidate for this collection tool. Below are the top cues that may help you determine whether a particular delinquent account or property would benefit from the use of foreclosureGo to Resource

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