If you remember during the mortgage meltdown a few years ago, Fannie Mae and Freddie Mac became embroiled in scandal and bad press. It now looks like there is some movement in the United States Congress to deal with Fannie and Freddie. CAI National has just reported that eight United States Senators have introduced a bill that would wind down the operations of these quasi-governmental entities. The big question is whether or when the bill will get traction. Here’s what CAI has reported: Continue Reading Bill Introduced in United States Senate to Replace Fannie and Freddie
With Few Exceptions – Open HOA Board Meetings Are Not Optional
Early last week, I participated as a volunteer for the Rocky Mountain Chapter of Community Associations Institute on the HOA Line 9 which is hosted by 9 News with the assistance of the Chapter. This oustanding program permits folks who live in and serve on the boards of HOAs in Colorado, to call in with questions about their associations. While we received many questions on the new HOA debt collection law which will go into effect on January 1st, I also noticed a trend from the calls I received relating to transparency.
Since I understand that many HOAs in Colorado are self-managed and the boards of directors which govern them may not necessarily be well-versed in the provisions of the Colorado Common Interest Ownership Act ("CCIOA") relating to open meetings, I thought now was a great time to provide these folks with basic information on the laws which appropriately promote transparency. Please feel free to share this information with residents and board members of HOAs in Colorado.
Here is what you need to know:Continue Reading With Few Exceptions – Open HOA Board Meetings Are Not Optional
Let’s Start a Poop Patrol Revolution!
If you have followed my summertime blog entries over the past couple of years, you know that I love dogs! In fact, my husband and I are the proud parents of a lab and two adorable beagles. While I love dogs, I have to tell you that I DO NOT love dog poop. Frankly, it’s fair to say that one of my pet peeves is when dog owners are not responsible and do not pick up after their canine kids.
Lily and Finnegan are always responsible poopers!Continue Reading Let’s Start a Poop Patrol Revolution!
Time to Start Revising Your Collection Policies!
As you may have heard by reading our blog, on May 28, 2013 the HOA Debt Collection bill (HB 1276) was signed into law by Governor Hickenlooper. Although the requirements of the Bill do not go into effect until January 1, 2014, it is not too soon to commence preparing revisions to your Association’s Collection Policy to ensure timely compliance.
Effective January 1, 2014, an Association must have a Collection Policy which, at a minimum, includes the following information:
(1) The date on which assessments must be paid to the association and when an assessment is considered past due;
(2) Any late fees and interest the association is entitled to charge on a delinquent account;
(3) Any returned-check charges the association is entitled to charge;
(4) The circumstances under which a delinquent owner is entitled to enter into a payment plan and the minimum terms of the payment plan;
(5) Before the association turns over a delinquent account to an attorney or collections agency, the association must send the delinquent owner a written notice specifying:
(a) The total amount of the arrearage, with an accounting of how the total arrearage was determined;
(b) Whether the opportunity to enter into a payment plan exists and instructions for contacting the association to enter into the payment plan;
(c) The name and contact information for the individual the owner may contact to request a copy of the owner’s ledger to verify the amount of the debt; and
(d) That action is required to cure the delinquency and failure to do so within 30 days may result in the account being turned over to a collection agency, a lawsuit being filed against the owner, the filing and foreclosure of a lien against the owner’s property and other remedies available under Colorado law. Continue Reading Time to Start Revising Your Collection Policies!
Happy Flag Day!
Today is Flag Day and the 238th birthday of the United States Army! There is no question in my mind that the vast majority of HOAs in Colorado recognize the importance of allowing residents to express their patriotism by displaying the American flag and service emblems. However, as we observe Flag Day and prepare for the July 4th holiday, now is a great time to remind HOAs about applicable Colorado law. Here’s what you need to know: Continue Reading Happy Flag Day!
Won’t you be my neighbor – Justin Bieber?
I remember growing up and hearing the delightful words of Mr. Rogers, “It’s a beautiful day in this neighborhood, A beautiful day for a neighbor, Would you be mine? Could you be mine? Won’t you be my neighbor?”
It doesn’t look like Justin Bieber will be singing this song anytime soon about his neighbors &ndash