A new subsidiary of a national asset management firm has been founded to help resolve some of the problems experienced by Homeowners Associations (“HOAs”) and the mortgage industry in the resale of foreclosed and defaulting residential properties. A press release by the newly formed company, Sperlonga Data and Analytics, states…
*Asked & Answered This economic downturn has dealt a serious blow to the assessment revenue of Associations throughout California. Almost every Association is dealing with several delinquent homeowners. One Board Member recently submitted a question on our site asking what happens to an owner’s delinquent assessments if the owner sells…
In an effort to collect unpaid assessments, Associations have the power pursuant to California Civil Code Sections 1367(a) and 1367.1 to record a lien on the offending property and subsequently enforce that lien through foreclosure. After the foreclosure sale, California Code of Civil Procedure § 729.035 states that “the sale…
High instances of foreclosures on rental properties have spurred new protections for unsuspecting renters subject to eviction… High instances of foreclosures on rental properties in Southern California have spurred new protections for unsuspecting renters subject to eviction. SB 1149 (Corbett), effective January 1, 2011, (1) changes the notice period of…
New legislation enables a HOA to record a single request for title information on all defaulting properties within the Association… Effective January 1, 2011, AB 2016 (Torres) permits a Homeowners Association (HOA) to record a single request for title information on all defaulting properties within the Association. Before this bill,…