Associations Need To Be More Diligent During The Foreclosure Process
Homeowners and condominium associations were doing an adequate job of collecting monies. This is due to them including write-offs that were so troublesome or hard for the association to deal with. This is all before the market crashed in 2008. The court system became highly overwhelmed with mortgage foreclosures. And, unchallenged cases would typically take at least 3 years to finalize. Associations have had to make changes in their collection