New Data & Analytics Firm Seeks to “Bridge the Gap” Between the Mortgage Industry and HOAs
A new subsidiary of a national asset management firm has been founded to help resolve some of the problems experienced by Homeowners Associations (“HOAs”) and the mortgage industry in the resale of foreclosed and defaulting residential properties. A press release by the newly formed company, Sperlonga Data and Analytics, states that HOA claims for unpaid […]
Short Sales and Delinquent Assessments
*Asked & Answered This economic downturn has dealt a serious blow to the assessment revenue of Associations throughout California. Almost every Association is dealing with several delinquent homeowners. One Board Member recently submitted a question on our site asking what happens to an owner’s delinquent assessments if the owner sells his property in a short […]
Purchaser of Home Foreclosed by HOA Entitled to Recover Repair Costs from Redeeming Homeowner
In an effort to collect unpaid assessments, Associations have the power pursuant to California Civil Code Sections 1367(a) and 1367.1 to record a lien on the offending property and subsequently enforce that lien through foreclosure. After the foreclosure sale, California Code of Civil Procedure § 729.035 states that “the sale of a separate interest in […]
Residential Tenancies and Foreclosure; New Renter Protections
High instances of foreclosures on rental properties have spurred new protections for unsuspecting renters subject to eviction…
Recording Blanket Requests for Title Information
New legislation enables a HOA to record a single request for title information on all defaulting properties within the Association…