With many Americans continuing to suffer financially from the pandemic, homeowner and condominium associations face the potential of their members facing bankruptcy as a financial lifeline. Knowing the basics about what homeowner bankruptcies mean to community associations is critical for every board of directors. Understanding the basics of the automatic stay, splitting the owner’s account, and the different chapters of personal bankruptcies will help the board ensure it protects the association’s interests and does not act in violation of the bankruptcy stay. Read the article……………………………..
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