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Network of the Homeowners and tenants of SAFE HARBOR CONDO 68580 . This Network, which is part of a national network of HOA homeowners, is moderated by Richard Gordon at R.A. Gordon Company . Serving HOAs in: Arizona, California, Florida, Texas, Nevada, Oregon, Virginia and Washington
Condo owner shares her LM Funding HOA horror story. Posted on June 29, The association is funded up front for the safe harbor amount of assessments that would be paid to the association following a lender foreclosure. In Florida, the safe harbor amount is up to 12 months of unpaid.
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This decision changes the balance of power between lenders and homeowner associations and will have an impact on mortgage foreclosures moving forward. In 2008, the Homeowners Association Act was amended to provide lenders safe harbor from assessment liability.
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