Fiduciary Duties
One of the biggest concerns that we see with our clients is the fulfillment of fiduciary duties. What are they? Are they being met? What liability is associated with them?
In order to fully understand these “duties,” it is important to know what a fiduciary is. Encyclopedia Britannica states that a fiduciary is: “a person who occupies a position of such power and confidence with regard to the...
Short Sales
HOAs are no strangers to foreclosures. The loss of HOA assessment income due to foreclosures is substantial. More and more owners are “underwater” in their lot or condominium unit: the amount they owe far exceeds the value. Lenders are taking longer to foreclose and HOAs are experiencing increased losses as a result. One tool to reduce foreclosures is the short sale. Simply put, a short sale...