The Start of the Fairy Tale: Creation of the Homeowner Assistance Fund
by, Dee Rowe, CACM, Contributing Author Once upon a time, benevolent Prince Sanders was afraid that people would lose their homes because they were unable to pay their mortgages or HOA fees. You see, a nasty respiratory disease was ravaging the kingdom and all surrounding kingdoms. Workers not deemed essential were forced out of work to limit the spread of the disease. The price of essential goods and services skyrocketed. Even once a “return to work” was announced, for many business owners and employees there was no work to return to. The kingdom was in crisis. Since he was Chairman of the kingdom’s Senate Budget Committee, he and 11 others authored theAmerican Rescue Relief Act, which included a Homeowner Assistance Fund designed to keep those people […]
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6 Unexpected Ways an HOA Recovers Delinquent assessments.
Money judgments are not an effective way for an HOA to collect delinquencies. It’s often more effective for an HOA to work with delinquent homeowners to find a mutually beneficial resolution. This may involve setting up a payment plan or finding alternative ways to resolve the delinquency.
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Why Money Judgments Don’t Work for Assessment
Money judgments are not an effective way for an HOA to collect delinquencies. It’s often more effective for an HOA to work with delinquent homeowners to find a mutually beneficial resolution. This may involve setting up a payment plan or finding alternative ways to resolve the delinquency.
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Is Your HOA or Condo Board Doing A Good Job?
The truth is, most Board members are honest people that meant well when they campaigned for election and mean well when they attend and vote in each meeting. They have reasons for making the unpopular decision that the residents complain about. Oftentimes those reasons are valid and the unpopular decision was actually the lesser of two evils. But, how do you know for sure?
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HOA Payment Plan Provisions to Protect Your Community
HOA delinquencies end in foreclosure too often. An HOA payment plan is an ethical option that can help communities get every penny they’re owed.
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How Does an HOA Collections Company Really Work?
Life is full of mysteries. The way an HOA collections company works doesn’t have to be one of them. Here are the ins and outs of industry-specific collections for HOAs and condos.
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Signs You’re In an Abusive Relationship With a Predatory HOA Collections Company
The sad truth is that predatory HOA collections companies are out there. Are you stuck in a bad contract with one of them? Look for these signs.
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How To Settle a Debt with an HOA Collection Agency
Being in debt is stressful, but somehow getting out of debt can feel even more so. Working with, not against, an HOA collection agency helps reduce that worry.
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How Much Should Your Community Pay for HOA Collections?
Collecting from delinquent homeowners in your HOA or condo association can be expensive. But should it be? Exactly how much should your community be paying for HOA collections?
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What Happens When You Don’t Pay Your HOA Dues?
There are a lot of reason why it’s important to pay your condo or HOA dues. But sometimes life throws a curveball that makes managing finances difficult. Here’s what can happen if your HOA dues are the bill that goes unpaid.
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3 Reasons to Hire an HOA Collections Agency to Manage Your Delinquencies
Community associations don’t have a lot of options when it comes to collecting past-due assessments from delinquent homeowners. Here are 3 reasons why an HOA collections agency is the right choice for managing your delinquencies.
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This Isn’t Why You Volunteered to Serve on your HOA or Condominium Association Board!
You joined your HOA or condo board to make a difference, not to dive head first into the drama of HOA bill collection. Don’t shoulder that burden, let Axela do it for you.
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Does New ‘Surfside’ Condo Legislation in FL Go Far Enough?
On the heels of the tragedy in Miami, new condo legislation in FL is being proposed to avoid future destruction. This can and will mean big changes for your condo association.
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Who Collects Condo and HOA Fees and Assessments? What Happens to the Money?
HOA fees and assessments are the lifeblood of a community association. But why is that so? Understanding how and why your community collects fees is important to understanding your part in your condo association or HOA.
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Shifting the Emotional Burden of Condo and HOA Delinquency
HOA delinquency is a common problem many communities face. Homeowners and condo association board members shouldn’t have to handle the emotional turmoil unpaid assessments bring.
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Community Association Collections 101: What Happens When An Owner Files For Bankruptcy?
Community association collections are hard enough with standard delinquency. Throw homeowner bankruptcy into the mix and you’ve got a real pickle on your hands. Here’s how to handle such a tricky situation.
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Traditional Collection Methods Versus the HOA Business Model (A Case Study)
Traditional collection methods leave a lot to be desired for HOAs and condo associations. See how Axela was able to help a community association when those other collection methods fell short.
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Can my HOA Collect if the Homeowner Declares Bankruptcy?
When a homeowner declares bankruptcy, is the HOA or condo association still able to collect? In such a challenging situation, it’s essential to take the right steps and consult with specialized collections experts.
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Fishy Legal Tactics HOA Attorneys Have Used for Collections
Attorneys are always looking for new ways to make the most money, even HOA attorneys. Time and again we’ve seen the tricks they use claiming to try to collect for your association, but really they’re just lining their own pockets.
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Why Is Your Community Association Still Using a Lawyer for HOA Collections?
Should you contact your lawyer for HOA collections? Calling in the big guns may sound good, but it can also cost huge fees that may end up coming back to the association in the long run.
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Super Liens: Nice, but Not Necessary
Super liens or priority liens allow community associations to collect on the debt owed to them before other lien holders. Cutting the lien line with a super lien sounds like a nice benefit to have, but it surely isn’t one you need. Community associations can recover on debt even without the advantage of a priority lien.
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Don’t Get Sued, Get Axela!
Is your community association indemnified from legal action resulting from collection activities? If not, new legislation could put you in danger of being sued. Want to get paid without risking it all? It’s time to get Axela.
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What Would You Do? HOA Collection Case Files
In this edition of HOA Collection Case Files, we explore a case where the owner has passed, owing the association 17k, and a 13k tax certificate. The heir cannot afford to pay, and the estate is scheduled for a tax sale. What would you do to recover for this community?
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Fair Collections Everyone In Your Association Can Smile About
Condo and HOA Collections don’t need to be unfair. Merit-based solutions exist to make fair collections – a win-win for both the community and the homeowner.
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Consider the Value Chain for the Most Effective Collections for Condos and HOA’s
Condominiums and Homeowner Associations cannot afford anything less than a perfect cash flow scenario. Which brings us to the concept of “The Value Chain.”
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