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HOA Resource Center
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Is An HOA Obligated To Pay the Mortgage on a Property It Foreclosed On?
A homeowner association's ability to foreclose on a property for failing to pay assessments is a potent tool in collections. Unfortunately, many associations do not utilize this avenue of collections due to a belief that the association would become obligated to pay the first mortgage on the propert Read More...
news
Considering a Receivership? Important Factors to Take Into Account
A receivership allows an association to intercept a tenant's rent payments. The rent payments are applied to the delinquent homeowner's balance until paid in full. The process of the receivership is handled by the receiver, an independent third party appointed by the court. If you are interest Read More...
Topics: Litigation, Collections
Most Recent Items
video 
Collections in a Nutshell - Part 1
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 Read More...
Topics: Collections, Video
blog 
Forgiveness of Debt and 1099-C Tax Forms, Oh My!
Recently, I wrote about when an association should consider forgiveness of an owner’s debt. Once the association decides to forgive an owner’s debt, then what? First, the amount will actually be written off to bad debt and taken off the association’s books. Second, since it is tax season Read More...
Topics: Collections
blog
When Should an Association Consider Forgiving an Owner’s Debt?
Owners in your community may frequently request that the board forgive their debt. Can, and should, the board do this? First of all, as many of you are aware, the Board has a fiduciary duty to collect assessments on behalf of the association. That includes the ability to not only assess late f Read More...
Topics: Litigation, Collections
news
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 v Read More...
video
What To Do With a Bank Owned Property?
What do you do with a bank owned property? What options do associations have in terms of collections and foreclosure? What about covenant violations?
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Topics: Collections, Foreclosure
video
Garnishments: How they Work
What is a garnishment and how can a communtiy association use them as a collection tool? What's the difference between a bank, wage and tenant garnishment?
Read More...
blog
Should Delinquent Owners Serve on the Board?
In Florida, delinquent owners are prohibited from serving on their association’s board. While Colorado does not have a similar law we do recommend that associations include such a requirement in their bylaws. Why? Read our full blog post.
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blog
Bankruptcy Rules Requires More Steps for Associations
We have seen a new trend in Chapter 13 bankruptcy cases which is requiring associations to do more work to protect their interests. Many bankruptcy courts are now requiring secured creditors, like associations, to file a notice with the bankruptcy court if the amount of assessments to be paid unde Read More...
Topics: Collections
news
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 as Read More...
Topics: Litigation, Collections
article 
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. Read More...
Topics: Litigation, Collections