Assessments, Condos vs. Town Homes
If you develop or manage condominium or cooperative projects, you need to be aware of new Freddie Mac underwriting requirements - Freddie Mac has promulgated new temporary underwriting requirements for mortgages secured...more
The 2020 legislative session was notable for a few reasons. First, the Democrats held the majority of seats in both houses of the General Assembly for the first time in recent history. Second, the legislature also took...more
In the wake of SFR Investments Pool 1, LLC v. U.S. Bank, N.A., in which the Nevada Supreme Court held that an HOA foreclosure sale may extinguish a first position deed of trust, lenders have advanced numerous arguments as to...more
The circumstances under which a condominium or homeowners association (HOA) lien for unpaid assessments may wipe out a lender’s mortgage lien continues to evolve across the country. As noted in our previous alerts regarding...more
A recent decision by the District of Columbia Court of Appeals brings into renewed focus the tension between condominium/homeowner associations and lenders when it comes to payment of delinquent association assessment...more
A recent decision by the District of Columbia Court of Appeals brings into renewed focus the tension between condominium and homeowner associations and lenders when it comes to payment of delinquent association assessment...more
It is hard to imagine that a lender’s first-position deed of trust on a residence worth hundreds of thousands of dollars could be extinguished by a homeowners’ association (HOA) lien for overdue neighborhood assessments,...more
First mortgage lenders acquiring title to collateral consisting of condominium units or homes in a homeowners community are afforded protection against assessment liability under both the Florida Condominium Act (Chapter 718...more