New Changes to the HOA Laws
Kelly Milligan, attorney at Chicago Title, delivered a highly informative message on HOA changes recently
Here's a snippet of a few of them:
Thanks to our representatives...
- It now only takes 66% of the homeowners to call a Board Meeting
- If ONLY 10% of those homeowners vote against HOA foreclosing, the HOA loses their power to old foreclosure practices!
A Few New practices HOA must perform
- Must give notice to homeowner AND Leinholder
- Must give sufficient time for homeowner to respond
- Must have court order to proceed further
- Must have accountability
- Homeowner gets option to set up payment plan
GET IN THE KNOW!!!
Many Thanks to Anita with Kissee Home Inspections for providing this helpful information.
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