Condominium Collections: Why Foreclosure is the Best Option

The Board of Directors of a condominium association has a fiduciary duty to make sure that all owners pay their dues and assessments. It is important that associations develop a collection policy and follow it consistently, as a collection policy of doing nothing could be a breach of a board’s fiduciary duty. Having knowledgeable and experienced legal counsel is an integral part of any condominium association collection policy – it makes a difference.

 

 

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Did Fannie Mae Just Update its Condominium Lending Guidelines Again?

Maintaining mortgage eligibility is one of the most important aspects of protecting property values. If your condominium ...
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Are Reverse Mortgages a Hidden Risk for Your Association?

Reverse mortgages allow homeowners aged 62 and older to convert home equity into cash without ...
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What is a reasonable late fee for delinquent community association assessments?

Community associations depend upon the timely payment of assessments to maintain operations and protect property ...
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Owner to Owner Dispute – Lessons in Property Transactions

Owner to Owner Dispute – Over a Driveway Easement and Boat Slips:  A recent case perfectly illustrated the importance ...
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