Homeowner Alerts
Please know several HOAs throughout the Nation have gone into a receivership in 2023 – 2024. The main reason for this is due to excessive spending and misappropriation / mismanagement of funds. Homeowners should frequently demand that their management company tell homeowners the exact dollar amount that is in the operating and reserves fund, and not just a projected amount. Homeowners need to be ready to file a claim against the HOA’s insurance carrier immediately once the improper management is suspected.
US appeals court halts enforcement of anti-money laundering law
A U.S. appeals court has halted enforcement of an anti-money laundering law that requires corporate entities to disclose the identities of their real beneficial owners to the U.S. Treasury Department ahead of a deadline for most companies to do so.
Are you being Sued by the HOA?
If you are sued by your HOA, you have the right to ask for a jury trial which in most cases the jury favors the homeowner. NHPA LLC also can help its members in court filings.
If your HOA has misappropriated or mismanaged funds don’t pay another cent to your HOA until those responsible for the mismanagement or misappropriations are held responsible. Remember the entire board is responsible for any mismanagement during their time on the board.
Stop HOA Fee Increases
Homeowners can stop HOA fee increases by actively participating in the HOA meetings, reviewing the budget carefully, challenging unjustified increases based on the governing documents, and potentially voting against a proposed increase, if the HOA requires member approval for changes to the fees.