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Community Associations Network
- March 18, 2016
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In Michigan, foreclosure is not only a contractual right, but a statutory right as well. Michigan is primarily a foreclosure by advertisement state; however, foreclosure may proceed through the court system as well. This is referred to a judicial foreclosure.  Read the article………….

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Community Associations Network
- February 16, 2016
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Associations have been counseled for the last several years to move quickly to foreclose on units in cases of prolonged lender foreclosures so that they could utilize these residences to reap rental income while the bank cases languish.    Read the article………..

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Community Associations Network
- February 8, 2016
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It is not uncommon for a homeowner association (“HOA”) to file a separate claim of lien foreclosure action against a resident even though the bank’s mortgage foreclosure action remains pending. Therefore, a homeowner can potentially face two foreclosure actions against the property at the same time    Read the article………..

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Community Associations Network
- February 5, 2016
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The Nevada Supreme Court held in SFR Investments Pool 1, LLC. v. U.S. Bank, N.A. that a non-judicial foreclosure by an HOA generally extinguishes a first mortgage interest, however, it left several unresolved issues.   Read the article………….

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Community Associations Network
- April 14, 2015
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Contrary to popular belief, most property owners fulfill their financial obligations to their association. As a result, the number of actual association foreclosures is very, very small. Of that percentage, almost nobody wakes up in the morning and decides to stop paying a mortgage or condominium or homeowner association dues. The facts of life, however, […]

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Community Associations Network
- April 13, 2015
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This blog post is part IV in a series of posts discussing why community associations cannot afford to ignore lender foreclosure actions. The underlying theme of this series is that associations have a financial interest and lien rights in their properties and by ignoring lender foreclosure actions, associations are ignoring their own financial interests and […]

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Community Associations Network
- March 20, 2015
11 views 41 sec

This blog post is part II in a series of posts discussing why community associations cannot afford to ignore lender foreclosure actions.  The underlying theme of this series is that associations have a financial interest and lien rights in their properties and by ignoring lender foreclosure actions, associations are ignoring their own financial interests and […]

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