Tag Archives: debt

Fair Debt Collection

Since assessments are fees for maintenance and use of utilities and not consumer debt, many association board members wonder if their communities are subject to the Fair Debt Collection Practices Act (FDCPA).  Some may be surprised to learn most state and federal courts consider assessment to be “debts” according to this definition: Read more

Fair Debt Collection

Since assessments are fees for maintenance and use of utilities and not consumer debt, many association board members wonder if their communities are subject to the Fair Debt Collection Practices Act (FDCPA).  Some may be surprised to learn most state and federal courts consider assessments to be "debts" according to this definition:  A debt...

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FHA Condo Loan Approval: New Glitches Arise

FHA Condo Loan Approval: New Glitches Arise

July 15, 2011
 

In this week’s tip, we provide answers to an HOAleader.com reader’s question.

Our reader writes, “We have been notified that we must apply for FHA approval to provide reverse mortgages for our homeowners. We’ve had FHA approval since 1978. However, we must now begin the process all over. Our master deed contains a ‘right of first refusal’ covenant, which, according to our lender, FHA won’t approve. Has anyone encountered this problem and, other than amending the master deed, come up with a solution?”

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