LRES Releases White Paper Outlining Crucial Answers Servicers Must Know Before Working with HOA/COA Properties

- To clear industry confusion regarding rules applied to HOA and COA super liens -

ORANGE, Calif.--()--LRES, a national residential and commercial real estate services company providing valuations, REO asset management, HOA and technology solutions for the mortgage and real estate industry, announced that it now offers a free white paper, “10 Key Questions (and Answers) about HOA/COA Super Liens.”

Click here to download “10 Key Questions (and Answers) about HOA/COA Super Liens”: http://info.lres.com/10-key-questions-and-answers-about-hoa/coa-super-liens

This new white paper corrects common myths and clears confusion associated with rules that could threaten to damage servicers’ lien positions specifically when working with Homeowners Associations (HOA) and Condo Owners Associations (COA). Unpaid HOA/COA fees pose a major risk to investors and servicers, and servicers must be armed with the right information and skillset to mitigate this risk.

The whitepaper thoroughly answers the following common questions: what is an HOA super lien?; are there different regulations governing HOAs vs. COAs?; can an HOA/COA foreclose in non-super lien states?; what impact does safe harbor have on HOA/COA super liens?; is there a difference in the way HOA/COA super liens and foreclosures are managed in judicial vs. non-judicial states?; do super-liens set a cap for servicers/lenders’ maximum liability for HOAs/COAs?; who is responsible for paying HOA/COA dues for a short sale property?; what is an estoppel?; are there different rules for HOAs/COAs for reverse mortgages?; and who has responsibility for HOA’s/COA’s assessments at the bank servicing the loan?

“The HOA/COA lien process is so complex and oftentimes misunderstood, which is why we developed this whitepaper as an educational resource to help safeguard servicers’ lien positions,” said Roger Beane, LRES founder and CEO.

About LRES

Orange County, Calif.-based LRES is a national residential and commercial real estate services company providing valuations, REO asset management, HOA and technology solutions for the mortgage and real estate industry. With more than 15 years of continued growth, LRES offers managed business processes for the origination and default markets. For more information about LRES, visit its website at www.lres.com.

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Contacts

William Mills Agency
Sarah Wroble, 678-781-7236
sarah@williammills.com

Contacts

William Mills Agency
Sarah Wroble, 678-781-7236
sarah@williammills.com