Resolution of the Board at the 7/18/2017 meeting.

Motion by Tom Maglienti, second by Linda Turner to adopt a formal payment procedure for homeowner’s delinquent accounts. Motion passed 5-0

On or about the 15th of each month, Bookkeeper reviews all accounts. Any accounts whose current payment has not been received will be sent a copy of their statement along with a reminder notice.  Statement will include the current late fee policy.  

• If by the 15th of the next month no payment has been received, Letter #1 will be sent by regular 1st class mail.  Letter may offer a payment agreement for catch up of past due amounts.
• If contact is made in the allotted time and a payment agreement offered, it should include:
  • A statement that the homeowner acknowledges the debt
  • Agrees to pay the back owed amount over no more than a (?)_ month period
  •  Due date for back payments shall be the same as the regular monthly payment
  •  During period of the Agreement, all payments must be paid on time.
  •  Must update current contact and emergency contact information.
  • Statement that if homeowner defaults on the agreement, it becomes void and all statement balances become immediately due and payable including interest charges and late fees to any remaining unpaid balance.  The HOA may move immediately to obtain a judgment and/or lien
• If agreement is kept, no additional late fees or interest on the amount in arrears will be charged.
• Must be signed by the homeowner and the Treasurer.

If an agreement is not followed or no response is made to Letter #1, then 15 days after the date specified (or any due date in the agreement), Letter #2 is sent by registered mail, return receipt requested.

Failure to respond to letter #2 or keep the payment agreement will result in account being turned over to the HOA attorney for collection.  Further collection efforts would be at the advice and discretion of the HOA attorney.