For many months, we’ve seen that Bank of America foreclosures have been completely stalled. There are a number of reasons for this, not the least of which is the fact that BOA took over a multitude of sub-prime loans when Countrywide went belly-up. More recently, however, the company BOA used (Recontrust) to conduct its foreclosure…
Tag Archive: delinquency
The Carrot Approach to Collecting Assessments
Association attorneys can talk all day long about the “stick” approach to collecting delinquent assessments, because that’s what we do – we get involved after a delinquency already exists. However, the “carrot” approach to collecting assessments – essentially preventing or at least reducing delinquencies – is equally important and can save associations a lot of…
Good Policies Mean Good Collections: Making the Most of Delinquent Assessments
We recently had an article published in the May/June 2010 editions of the Community Associations Journal, published by the Washington State Community Associations Institute. The article discussed our belief that adopting, understanding, and consistently enforcing a clear collections policy can mean the difference between successfully collecting money owed to your association, or not. Please follow…
Introduction to Community Association Collections
In this introduction to community association collections, we will cover the basics of why and how associations collect assessments (also known as “dues”) from homeowners. Authority to Collect Dues Associations get their authority to charge and collect dues from state law as well as from the governing documents for the association. Associations are responsible for…
Tag Archive: delinquency
Bank of America Foreclosures in Washington State
For many months, we’ve seen that Bank of America foreclosures have been completely stalled. There are a number of reasons for this, not the least of which is the fact that BOA took over a multitude of sub-prime loans when Countrywide went belly-up. More recently, however, the company BOA used (Recontrust) to conduct its foreclosure…
The Carrot Approach to Collecting Assessments
Association attorneys can talk all day long about the “stick” approach to collecting delinquent assessments, because that’s what we do – we get involved after a delinquency already exists. However, the “carrot” approach to collecting assessments – essentially preventing or at least reducing delinquencies – is equally important and can save associations a lot of…
Good Policies Mean Good Collections: Making the Most of Delinquent Assessments
We recently had an article published in the May/June 2010 editions of the Community Associations Journal, published by the Washington State Community Associations Institute. The article discussed our belief that adopting, understanding, and consistently enforcing a clear collections policy can mean the difference between successfully collecting money owed to your association, or not. Please follow…
Introduction to Community Association Collections
In this introduction to community association collections, we will cover the basics of why and how associations collect assessments (also known as “dues”) from homeowners. Authority to Collect Dues Associations get their authority to charge and collect dues from state law as well as from the governing documents for the association. Associations are responsible for…