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Per Article IV Covenant for Maintenance Assessments, Section 7 Dates of Commencement of Annual Assessment Due Dates and Section 8 Effects of Nonpayment, HOA dues are due on the first of the month and are delinquent if not paid within 30 days of the due date. 

 

Each month, the HOA Bookkeeper (Bookkeeper) must send a statement to each Homeowner indicating outstanding dues payments and subsequent fees and balances. This should be done as soon as accounts are reconciled from the previous month.

 

Demand Letter

Soon after the Bookkeeper reconciles the previous month’s accounts, the Bookkeeper must notify the HOA Treasurer (Treasurer) of any Homeowners with delinquent dues balances of three months or more of dues, late fees at $10.00 per month, interest of 6% per annum and associated legal fees.

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The Treasurer will notify the HOA’s Lawyer (Lawyer) and request that the Lawyer send any Homeowner with a dues balance of over three months a demand letter via certified mail. The Treasurer must provide the Lawyer with the outstanding balance, and this letter must provide an explanation of the outstanding balance and what steps the HOA will take as the outstanding balance increases.

 

Lien

Soon after the Bookkeeper reconciles the previous month’s accounts, the Bookkeeper must notify the Treasurer of any Homeowners with delinquent dues balances of five months or more (i.e., at least five months of dues, late fees at $10.00 per month, interest of 6% per annum and associated legal fees.

     

The Treasurer must notify the Lawyer and request that the Lawyer place a lien on the Weatherhill Pointe home with the outstanding dues balance of more than five months of dues or more for the amount of the delinquent balance. The Treasurer must provide the outstanding balance to the lawyer. The Treasurer must work with the Lawyer, the Homeowner in question, and the Board to resolve any issues with the outstanding balance and maintain files of any related correspondence.

 

Any lien amount must be paid in full before it is removed. Once full payment is received, the Treasurer must work with the Lawyer to remove the lien and communicate any remaining concerns or issues with the Homeowner and the Board.

 

Foreclosure

Soon after the Bookkeeper reconciles the previous month’s accounts, the Bookkeeper must notify the Treasurer of any Homeowners with delinquent dues balances of twelve months of dues plus late fees, interest and associated legal fees.

 

The Treasurer must notify the Lawyer and request that the Lawyer initiate a foreclosure process on the Weatherhill Pointe home with the outstanding dues balance for the delinquent balance. The Treasurer must provide the outstanding balance to the lawyer. The Treasurer must work with the Lawyer, the Homeowner in question, and the Board to resolve any issues with the outstanding balance and maintain files of any related correspondence.

 

Any foreclosure amount must be paid in full before the process is resolved. Once full payment is received, the Treasurer must work with the Lawyer to remove the foreclosure and communicate any remaining concerns or issues with the Homeowner and the Board.

 

The Treasurer must get approval from the Board for any exceptions to these policies (indicated with bold formatting).