COLLECTIONS PROCEDURE

1. Late Notice – Approximately 60 days after payment is due, a reminder notice is sent to the homeowner. 

2. Interest will be charged to any accounts with amounts past due after 30 days at the maximum rate per annum.

3. Intent to Lien letter – Approximately 90 days after the payment due date, a final letter is sent, certified/return receipt and regular mail, to the delinquent homeowner giving them 15 days to pay.  There is a $21.00 fee charge to the homeowner for this by Management.  This fee includes the costs of postage and printing.

4. Lien – After the fifteen days has expired, and subject to the Board’s policy, the file is referred to the Association’s Attorney who records a lien and notifies the delinquent homeowner. – At the Boards request.

5. The Association will pay the Attorney’s fees, which them must be paid, along with all other fees and costs, by the delinquent homeowner before the lien will be released. 

NOTICE:  ONCE THE FILE IS WITH THE ATTORNEY ALL COMMUNICATIONS NEED TO GO TO THE ATTORNEY.  NEITHER THE BOARD NOR MANAGEMENT SHOULD DISCUSS THE MATTER WITH THE HOMEOWNER.

6. Final 10-day demand letter – 30 days after the lien letter is sent to the homeowner, a final 10-day demand letter is sent.  The delinquent owner must pay the Attorney’s fee, before the lien will be released.   – At the Boards Approval.

7. Title Report – Attorney orders a title report that lists all liens and mortgages on the property for the Board’s review.  Based on this information the Board decides whether to foreclose on the property. 

8. Foreclosure- The Board decides whether to foreclose on the lien.

Should the delinquent homeowner contact the Attorney during the process regarding a hardship, we will have them present a payment plan to the Board IN WRITING.  Management recommends agreeing to reasonable payment plans.