August 2012

FHA officials have informed CAI National that they anticipate revisions to the condominium guidelines will be released this week.  However, based upon this communication, CAI is not convinced these changes will be sweeping or substantive in nature.  For more information from CAI National, check out FHA Signals Release of New Condominium Guidelines.  And as always, you can count…

In an effort to stem losses from foreclosures, Fannie Mae and Freddie Mac have just announced a policy change addressing short sales.  CAI National released the following update outlining these changes.

“Fannie Mae and Freddie Mac have announced changes to short sale policies to help more borrowers avoid foreclosure and stabilize neighborhoods. Mortgage servicing companies will begin using the new short sale procedures in early November.

A short sale allows a homeowner to sell their home for an amount less than the value of the existing mortgage. While Fannie Mae and Freddie Mac incur losses in a short sale, these losses are significantly lower than the costs of foreclosure. As a result, the short sale is quickly becoming a preferred foreclosure alternative for both Fannie Mae and Freddie Mac. Continue Reading Fannie Mae and Freddie Mac Change Short Sale Requirements

CAI National recently released the following communication addressing plans by the U.S. Government to shrink Fannie Mae and Freddie Mac.  It is currently unknown whether, or to what extent, this course of action will impact the financing of mortgages in community associations.Continue Reading U.S. Government Announces Plans to Shrink Fannie Mae & Freddie Mac

Mediation is a type of alternative dispute resolution with the goal of finding a solution and reaching an agreement that is acceptable to all parties involved. In some counties, mediation is mandatory and if a case becomes contested, the parties are ordered to attend mediation prior to scheduling a trial. In some instances, however, even if not court ordered, it may be beneficial for the parties to attend mediation depending on the facts of the case.Continue Reading What is Mediation?

As I was driving to work this morning, I was reflecting on some of the less than constructive communications I have witnessed in the community association context lately. I don’t know if it’s the heat that’s getting to everyone or if the ugly presidential campaign is starting to rub off on us, but it seems like some folks have lost the ability to be constructive and to think before they act or speak. 

Whether it’s a homeowner to homeowner dispute, homeowner to board dispute, board to homeowner dispute, homeowner to manager dispute or any other combination – everyone needs to take a deep breath and think before they act. It’s also a good rule of thumb not to blast off that nasti-gram or leave a blistering voicemail in the heat of the moment. Continue Reading You Catch More Flies With Honey

After the shooting of Travon Martin in February, association lawyers discussed the possibility that the Retreat at Twin Lakes Homeowners Association could face liability for the actions of George Zimmerman, a member of the HOA’s neighborhood watch.

It appears that Martin’s family will be making a claim against the HOA’s insurance policy, asserting they are owed at least $75,000.00.  This indicates the Martins may intend to file a federal court suit against the insurance company.  The policy’s limit is $1,000,000.00, but the big issues will be whether the policy provided coverage at the time of the shooting, and whether it covers the shooting at all.Continue Reading After a Tragedy, the Inevitable Search for Deep Pockets