“But you signed a document promising to pay your fees on time” story.  Isn’t it time to take away the power to foreclose from association attorneys? Allowing this to continue is a lot like handing a three year old a loaded gun to play with.  As this report illustrates, the power to foreclose has nothing to do with ensuring that associations are adequately financed but everything to do with creating more billable hours for association attorneys. – Shu


Carey Codd Reporting 

Denise Wunders nearly lost her homes four months ago when she forgot to pay her $106-a-year maintenance fee. After racking up some late fees, the homeowner’s association’s lawyers got involved and her bill went into the thousands of dollars.“It was one of those where I said it’s tight, ‘I’m gonna put it aside,’” said Wunders. However, attorneys who represent homeowners associations say buyers sign paper work telling them of these consequences, and once their lawyers get involved, the bills start stacking up. Wunders faced a $4,000 legal fee.“The board of directors has a fiduciary duty to collect these assessments,” said Eric Glazer. “They have a duty by statute and they have a duty to enforce the terms of the document.”  Read Whole Story