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Yours is not the only association that fails to follow By-laws. If your letter referencing the By-law section detailing the guideline is not sufficient, you may need the services of a local, common-interest-community savvy attorney, who can also write a letter to the board.
Take your By-laws and a copy of your ledger to the attorney as a way to verify your engagement of professional services.
Once the matter is settled, you can bring it up in a board meeting and require that the board vote on the resolution, so that no other owner is subject to this board violation.
What else can I help you with?
When was Canadian Payments Association created?
Canadian Payments Association was created in 1980.
What is the highest rate of interest a Homeowners Association can charge for late payments in the State of Florida?
Florida's usury laws cap interest on 'loans' less than US$500,000 at 18%.
When was Australian Payments Clearing Association created?
Australian Payments Clearing Association was created in 1992.
What is the highest interest a homeowners association can charge for late payments in the state of Georgia?
Your governing documents, specifically your Collections Resolution, states specifically how late payments are penalized. If no answer is available in your governing documents, you may rely on your state's Usury Laws, if any exist. Bottom line is this: penalties for late payments must be 'reasonable'.
Can you get insurance to pay your mortgage while the house is being rebuild if there is a fire?
No, Your homeowners insurance is a type of "Hazard Insurance", you must continue to make your mortgage payments as usual. If your policy contains "Loss of use" coverage, then your insurance will cover the cost of temporary housing within policy limits, allowing you to continue making your mortgage payments.
If the homeowners association foreclose on property how does your loan get paid to the mortgage company?
If the homeowners association forecloses on a property, the foreclosure process typically involves a sale of the property. The proceeds from the sale are used to cover various expenses, including any outstanding debts, such as mortgage payments. The mortgage company will be paid from the sale proceeds first before any remaining funds are distributed to other creditors or the homeowner.
How can my house payments go up if my mortgage is fixed?
Even with a fixed mortgage rate, your house payments can increase due to changes in property taxes, homeowners insurance, or private mortgage insurance (PMI). These costs are often included in your monthly payment through an escrow account, and if they rise, your overall payment will too. Additionally, if you live in a community with homeowners association (HOA) fees, those can also increase over time.
Is insurance money taxed?
As far as homeowners, and auto claims payments are concerned no.
Can a homeowners association place a lien on property if partial payment of dues is being made?
You can work with your association board and negotiate removal of the lien. Depending on when the lien was filed, you may be responsible for the expense related to its filing. The situation may also depend on the agreement you had with the board over paying partial payments. It is unreasonable that the board would agree to accept partial payments, then -- assuming you're making the payments -- file a lien against your title. One must also assume that your agreement with the board is in writing.
What is the importance of mortgage insurance in protecting homeowners from financial hardship during periods of unemployment?
Mortgage insurance is important because it helps protect homeowners from financial hardship when they are unable to make their mortgage payments due to unemployment. It provides a safety net by covering the mortgage payments for a certain period of time, giving homeowners peace of mind and preventing them from losing their homes.
Is it illegal to take a car out of state when you are still making payments on it?
Not as long as you continue to make payments on it.
Where can I refinance my home in Erie, Pa. I have missed 3 house payments.?
The Lend America program "Hope for Homeowners" is designed to help homeowners who cannot afford their present payments due to escalating interest\,etc. The new mortgage is based on the value of the home and the income of the borrower to ensure a reasonable ability for borrowers to be able to make their new payments.
