As we mentioned in our December 8th posting on the Red Flags Rule (“Rule”), implementation of the Rule by the Federal Trade Commission (“FTC”) has been repeatedly delayed since 2008 while members of Congress seek a legislative fix limiting the scope of the Rule. The FTC is currently slated to begin enforcement of the Rule on January 1, 2011. Continue Reading Legislative Fix for Red Flags Rule Sent to President Obama

When an Association receives a Notice of Bankruptcy from the Bankruptcy Court, the Association should pay close attention to this document. This Notice is very important to the Association’s ability to collect pre-petition debt. Continue Reading The Importance of the “Notice of Bankruptcy”

The United States Department of Housing and Urban Development (“HUD”) has just announced an extension of the December 7th deadline for recertification of condominium projects that had received approval for FHA-backed mortgage insurance prior to October 1, 2008.    Continue Reading FHA Re-Certification Deadline Extended

It’s not surprising if you haven’t heard of the Red Flags Rule (“Rule”). That’s because since the Rule was originally slated to go into effect in January of 2008, members of the United States Congress have repeatedly asked the Federal Trade Commission (“FTC”) to delay implementation of the Rule while a legislative fix was sought limiting the entities that will be required to comply with the Rule. While that task has not been accomplished, the Rule is currently slated to become effective on January 1, 2011.Continue Reading Red Flags Rule Effective January 1st

The Federal Housing Administration is implementing a new approval process for condominium projects.  All projects must now obtain re-approval every two years.  Most current approvals are scheduled to expire on December 7, 2010.

Check your condominium’s approval status at the following link, and contact us if you need assistance obtaining re-approval before the December deadline.

As you know from our November 12, 2010 posting, most community associations in Colorado will be required to register with the Colorado Division of Real Estate (“Division”) by January 1, 2011.   While there was some talk that associations would be able to begin registering as early as November, the Division has not yet completed the online registration process. In fact, an emergency rule may be promulgated to provide a grace period for associations to register. Continue Reading Start Preparing Now for HOA Registration

All community associations in Colorado must register with the Division of Real Estate by January 1, 2011. Associations that do not register will lose their lien rights and the ability to enforce recorded covenants. The January 1st deadline, and the harsh consequences for associations, makes compliance a top priority. However, the Division of Real Estate…

What happens when your neighbor blasts his music too loud? Complains about your trees covering his yard? Fills his garage with fireworks for Fourth of July – and shoots them off every night for a month beforehand until midnight? Gets angry with you and dumps garbage on your lawn? What should the Association’s Board or manager do, if anything, when they receive the call from the affected homeowner?

Oftentimes, these types of problems are referred to by Boards and managers as “neighbor to neighbor” disputes. They become defined as such because they are disputes, of one nature or another, lodged by one owner against another owner, but generally do not affect either the common areas or more than a few other owners. Other common examples, in addition to those identified above, include parking, animals, and smoking.Continue Reading Tools for Handling Neighbor to Neighbor Disputes

Bank of America, JP Morgan Chase and other lenders have recently called for a halt on foreclosures amidst allegations that they submitted improper and, in some cases, fraudulent paperwork to push through their foreclosures.

 

It is a well known fact that homeowners delinquent in the payment of their mortgage are more likely than not also delinquent in the payment of their assessment fees. Therefore, the delay in the filing and conclusion of public trustee foreclosures in Colorado will inevitably result in greater delinquencies for associations.Continue Reading The Association’s Response to the Halt on Foreclosures

Many associations schedule their annual member and budget ratification meetings in the last months of the year. Annual meetings give an opportunity for owners to vote on one of the primary matters within their control: the election of board members. More members typically attend these meetings than board meetings, and they expect to receive information about important association business and have a chance to ask questions about board actions. Associations should recognize the need to balance member participation and information dissemination with meeting control. No owner wants to attend long, unproductive meetings, nor do members want to show up to the meeting only to learn that they cannot conduct business due to a technical legal issue such as improper notice or lack of quorum.Continue Reading Annual Meetings: Planning for Success