If you have failed to make payments on a residential or commercial mortgage, then the mortgage company can ask the trustee under the deed of trust to foreclose on the property. The trustee is the neutral intermediary set by the deed of trust who brings a foreclosure proceeding if payments owed according to the note and deed of trust are in default. In a foreclosure proceeding, a hearing will be held before the clerk of the superior court of the county where the property is located, and the trustee at that hearing will request the clerk enter an order allowing … Continue reading
Category Archives: HOA & Condo Associations
Swimming Pools and Handicapped Accessibility – A North Carolina Twist
A previous blog discussed “Swimming Pools, the ADA, and Handicapped Accessibility.” The middle of winter may seem like a strange time to discuss pools, but there have been North Carolina developments worth sharing. Changes to the ADA (Americans with Disabilities Act) for public pool facilities were issued in 2010 to be effective March 15, 2012, with the intent that public pools be more handicapped accessible. In May 2012, the Justice Department extended the compliance deadline for existing public pools to January 31, 2013 “to provide additional time for compliance and to respond to concerns and misunderstandings about the standards.” Generally, … Continue reading
FHA Guidelines & Condominium Rental Restrictions
For those of you who work with condominiums, you know how important FHA approval can be. Without such approval, purchasers can have difficulty obtaining financing for purchasing a condo. (After all, FHA-insured mortgages are between 30 and 40 percent of all condominium mortgages, and FHA insurance is typically required on mortgages where there is less than a 20 percent down payment.) FHA approval requirements have long been in flux. However, in 2011 and again in 2012, the FHA formalized many of the requirements. At a minimum under the guidelines, to be eligible for FHA financing a condominium must: A great … Continue reading
Safety and Security Issues in Condo and Homeowner Associations
Several of our attorneys have just returned from Tucson, AZ, and the annual community association Law Seminar. This program, presented by the College of Community Association Lawyers and the Community Associations Institute, gets better every year. There were many excellent sessions, including discussions of condominium water/leak issues, changes to the FDCPA (Fair Debt Collection Practices Act), adequate reserves and reserve studies, smoking bans, and more. One of our attorneys’ goals each year is to return with several “nuggets” of useful information to benefit clients. One especially intriguing session was on “Safety and Security Issues” in community associations, particularly in the … Continue reading
To Foreclose or Not to Foreclose
Should a homeowner association use foreclosure to collect association dues? The power to foreclose for unpaid association dues is a significant option in North Carolina. In many cases it is difficult for association boards and memberships to support using foreclosure without better understanding the importance of associations collecting all funds budgeted. It is important to keep in mind that an overwhelming number of foreclosure actions are dismissed very early in the process because the homeowner pays in full in a lump sum or through a payment plan. Only a small fraction of cases are actually foreclosed. Associations, in almost all … Continue reading
Meeting Myths
5 Myths About Meetings & Parliamentary Procedure If your association meetings are organized, properly run and stay on track, consider yourself lucky. If not, it’s likely your association is spending time on things it shouldn’t or isn’t doing things it should. There are several reasons why you might be having troubles. Let’s dispel some common meeting myths and explore what it takes to run a good one. yth #1: Parliamentary Procedure Doesn’t Matter. Many associations dictate in their governing documents that a certain parliamentary book will be followed when transacting business. In fact, North Carolina and other states have statutes … Continue reading
Swimming Pools, the ADA, and Handicapped Accessibility
Swimming pool and handicap issues have taken center-stage in 2012. Scary articles on new federal pool regulations include “The Pool-calypse” or “Poolmageddon” (yes, really). You may have the impression that every association pool needs extensive pool upgrades to comply with federal changes. The reality is not quite so clear. (As usual in the homeowner or condominium association world, your situation may be different. Contact us with specific questions.) ADVANCE WARNING: The current situation is confusing. Reading this blog will be like swimming 20 laps in an Olympic pool! Americans with Disabilities Act (ADA) Swimming Pool Guidelines Changes to the ADA … Continue reading