Financial Forecast: Status of Mortgage Foreclosure Policies and Assessment Delinquencies During COVID-19
The COVID-19 pandemic has had staggering impacts on the U.S. economy as many businesses shuttered and many Americans were laid off, had reduced hours at work, or experienced other financial hardship during the global crisis. CAI began surveying members in April 2020...
2021 Economic Forecast is Positive for Community Associations
2021 will see an increase of 4,500 new condominiums and homeowners associations—nearly 25% of the U.S. housing stock, according to the Foundation for Community Association Research. Community associations, which are home to more than 73 million Americans, will see a...
Condominium Assessments and Bankruptcy: What Can Associations Collect?
Courts across the nation are split on whether post-petition community association assessments constitute dischargeable debts under Chapter 13 of the U.S. Bankruptcy Code. To make matters worse, in November, the Supreme Court denied a petition to review the issue, leaving the community association industry wondering if the existing dispute among the courts will ever have a concise national remedy.
