Windsor Parke Collection Procedures
The Windsor Parke Property Owners Association (WPPOA) Board of Directors has adopted the following policies and procedures for enforcement related to the collection of annual assessments.
First statement for annual assessment: The association will send the first statement for the annual assessment no later than December 15th indicating that the assessment is due by January 1st and late fees will be applied if received after January 15th. The statement will reflect any past due assessments that are owed as well as the current assessment. If the assessment has not been paid by January 15th and a written extension has not been granted by the Board of Directors, the late fee of 1.5% of the total amount owed will be applied on January 16th and each consecutive month that the owner continues to owe assessments.
Second statement for annual assessment: The Association will send the second statement for the annual assessment by certified mail, return receipt requested, to the property address and to the address of record no later than February 15th indicating that this is the second notice and the assessment is past due.
If payment is not received by June 1, the Association evaluate if there is equity in the property and the manager will print the Property Appraiser Assessment and any mortgage recorded against the property subject of the assessment. If the Board of Directors, based upon a review of this information, believes that there may be equity in the property, the Association will send the necessary letters to record a lien on the property and record a lien on the property, assessing all costs and attorneys fees incurred against the property and adding to the balance. Attorneys fees shall be limited to $75 for a lien demand and $75 per recorded lien if not paid and added to the owner’s account.
Owner sent to collection agency: When an owner becomes 90 days delinquent, the Board of Directors may contract with a collection agency for collection services. The collection agency will send out appropriate letters and perform typical collection efforts to recover monies for WPPOA. The Owner’s account will be charged the cost of the collection process performed by the collection agency.
Foreclosure: If payment is not received within 45 days after recording the lien and the Owner has not made any payment plan, the Board of Directors will again review the property to determine if there is sufficient equity in the Property. If so, the manager will attempt to make direct contact (phone or in person) with the Owner to confirm that the Owner understands that foreclosure will proceed if payment is not made. If payment is not received within 60 days, the Association shall send the final notices by certified mail return receipt requested giving 45 days to pay full balance owed including late fees and attorney cost. If Owner does not pay all balances owed within the 45 days required or granted an extension based on extraordinary circumstances the foreclosure proceeding may be initiated with all costs associated with said foreclosure the responsibility of the Owner of the Property and assessed against the Property.