|
NEW
DELINQUENCY PROCEDURES POLICY |
|
July
1st
January 1st |
The
1st Bi-Annual HOA Assessment fee due and payable. |
|
30
days |
“REMINDER NOTICE” is sent to homeowner requiring full payment. |
|
60
days |
“LATE
NOTICE” is sent to homeowner requesting payment in full a $50.00
management company collection cost administrative fee* will be
added to the homeowner’s account. |
|
90
Days |
“FINAL
NOTICE” a certified letter is sent to homeowner requesting
payment in full within 15 days. If payment is not received
within the allotted 15 days, the account is turned over to the
Association Attorney for immediate legal action and filing suit. |
|
105
days |
ATTORNEY
ACTION; Delinquent account turned over to the Association’s
attorney to begin pursuing collection at the owner’s expense
(see note below). |
|
|
|
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HOMEOWNERS WILL BE RESPONSIBLE FOR ALL COSTS AND FEES RELATED TO
THE COLLECTION OF THE ASSOCIATION’S FEES, DEBTS AND CHARGES! |
|
NOTE:
Legal action may result in the Association filing suit to seek a
judgment, attachment of assets, garnishment of wages, a lien
upon the property and foreclosure. If the Association has to
send a homeowner’s account to the Attorney for collection; all
of the Association fees remaining for the fiscal year will be
accelerated (as applicable), as provided for in your documents.
The owner will be responsible to pay all HOA fees, late fees,
court costs, attorney fees and the management company collection
cost administrative fee*. *This fee is for the management
company’s additional time and expense related to dealing with
the delinquent account and the Association’s attorney. |
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