This morning the Denver Post published an article about House Bill 1237, the bill intended to clarify records disclosure requirements for homeowners associations. Suzanne Leff and Molly Foley-Healy have previously discussed the substance of House Bill 1237, and we are pleased to see legislation that will help associations with everyday governance.
Many of the problems…
So you’ve been elected to the Board; you’ve reviewed all of the governing documents (at least, those that you’ve been provided); you faithfully review your board packets in preparation for your regular meetings, you’re well on your way to helping your association conduct its business in a businesslike manner. At your board meeting, a curious owner inquires why her monthly assessments are different than her neighbor’s.Continue Reading Misallocations of Assessments: What’s the Board To Do?
CAI National made the following announcement regarding a HUD ban on sellers paying assessments at closing:
"The U.S. Department of Housing and Urban Development has acted to ban the practice of sellers agreeing to pay a set amount of association assessments for a buyer when closing on a FHA-insured mortgage. The ban is included in …
In The Open Forum today in the Denver Post, the following letter was published which gives a fresh perspective on why problems arise in HOAs.
"RE: "HOA house may get put in order." February 13th news story.
We agonize about students who can’t read. What about adults who won’t read? …
The Denver Post recently reported that Colorado will “receive $204.6 million as part of a $25 billion deal that states have reached with the nation’s biggest mortgage lenders over foreclosure abuses that occurred after the housing bubble burst.”
In addition to the financial settlement, banks will be required to “stop the use of robo-signing, end the process of dual tracking of loans, provide a single point of contact for customers as they move through the loan-modification process and abide by deadlines for loan modifications.”
The Post reports that “Colorado will get: Continue Reading Will Foreclosure Relief Funds Ultimately Benefit HOAs?
The past week has been a busy news week for HOAs in Colorado. The trend continues with a column about community association manager licensing in today’s edition of the Snowmass Sun. Columnist Barbara Lucks describes how the role of community association managers is different from that of other property managers as she makes the…
Yesterday I attended and testified at a hearing before the House Local Government Committee on House Bill 12-1237 (“HB 1237”) relating to the production of association records to homeowners. While an amended version of HB 1237 was reported out of Committee and seems to be on its way to passage in the Colorado House of Representatives, that is not what really caught my attention.
What made me sit up and take notice were the comments made by Representative Balmer when he made a motion to refer the bill out of Committee to the full House with an “extremely” favorable recommendation. Representative Balmer is a Republican from Centennial and as a general rule Republicans do not favor regulation. However, when it comes to HOA legislation that has not been the case. Continue Reading Concerns Over HOA Accountability in Colorado Crosses Party Lines
House Bill 12-1237 passed out of the House Local Government Committee on a 9-0 vote this afternoon. The Committee adopted an amendment to the original bill language that does the following:
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On January 16th, I blogged on House Bill 1057 which would have required the Insurance Commissioner to adopt the following rules relating to homeowner’s insurance: (1) the criteria and requirements for estimates of replacement value of insured property; and (2) educational requirements for insurance producers related to homeowner’s insurance – including estimating replacement values. The…
Yesterday, CBS News 4 ran a segment on the 6:00 pm news addressing the failure of HOAs to produce records to owners as highlighted in the 2011 Annual Report of the HOA Information and Resource Center. While we can always count on news outlets to run a sensationalized “HOA horror story,” the good news is the story they recounted ended with the HOA ultimately doing the right thing by producing records. Continue Reading CBS News 4 Covers HOA Records Bill
