Collection of Delinquent Dues Policy- updates effective Jan. 1

During the December 18, 2023 Board Meeting the Collection of Delinquent Dues policy was updated and will go into effect January 1, 2024.  Below are the details of the policy:

The procedure for collection of delinquent dues is:

A. After the 17th of each month, a late payment reminder phone call or email is made/sent to homeowner.

B. After the 15th of the following month, a letter is mailed/ hand delivered notifying the homeowner that their account is 30 days past due. If mailed, the addressed/stamped envelope is photocopied before mailing to show the letter is addressed properly and suitable postage was affixed thereto. If the balance is not paid within 10 days of the date of the letter, dues will be accelerated, a lien filed and in the discretion of the Board, the account will be sent to FCHA attorney for collections.

C. Approximately 10 days after the date of the letter if payment not received, a lien is filed. A filing fee of $25 is charged to the homeowner.

D. A letter is sent to the homeowner when the office receives the recorded lien informing the homeowner, they have 10 days to pay before legal collection processing begins. This letter will also notify the homeowner that interest of 6% per annum will start accruing on the past due amount until paid in full. (Covenants Article IV, section 8)

E. If all the above fails to produce payment, the account is sent to the attorney for collection.

F. At any time, in the discretion of the Board, the Association may permit a delinquent homeowner to execute a promissory note and/or other payment agreement where the homeowner agrees to make payments over a period of time to bring the homeowner's account current on terms and conditions agreeable to the Board.

G. Any legal fees incurred as a result of forcing a homeowner to comply with the Covenants and/or By-Laws will be assessed to that homeowner.