Collection Procedures (July 2011)



PROCEDURE ESTIMATED NUMBER OF DAYS PAST DUE CHARGE TO ACCT OTHER INFORMATION
First monthly statement 15 $5.00 Reminder of balance due $50.00 or more
Second monthly statement 30 none Reminder of balance due $5.00 or more
Certified demand for payment 45 none States that we may be reporting to credit bureau and/or will refer the account to legal council for non-judicial foreclosure, requests pymt within 30 days
Refer to atty for lien/foreclosure 75
105
125
Legal fees incurred will be billed to account as invoiced from lawfirm 30 day Notice of Default
Posting for Foreclosure (21 days prior to f/c)
Trustees Sale (First Tuesday of each month)
Homeowner will be responsible for payment of all legal fees incurred.
Eviction / collection of rents 135 varies Will pursue eviction of owner and/or collection of rents once foreclosure occurs.
Termination of services (i.e. basic cable service, water, electricity) varies As the Association pays for certain services to this unit, these services may be terminated due to non-payment of assessments
Repeated delinquencies If a homeowner is continuously delinquent, the Association reserves the right to bypass collection notices and refer the account directly to the law firm for foreclosure

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from the association.

You have Successfully Subscribed!