Originally reported on in May 2022, Colorado homeowners were experiencing what was reported as “predatory” behavior, such as aggressive code violation enforcement and penalties, along with foreclosure.
Now in a feature from the Denver Post:
“Lawmakers have introduced several reform bills that would restrict foreclosures from delinquent fees and require HOAs and metro districts to adopt written policies, enhance notifications to homeowners and add licensing requirements for professional managers. The legislation would also set regulations on how much homeowners can be charged. HOAs would be required to work with homeowners before beginning any foreclosure proceedings”
The new bills introduced so far during the 2024 session include:
- HB24-1267 : would require HOAs to adopt written policies on fines and fees and on governing disputes. Would prevent the metro district from foreclosing on any lien because of delinquent fees.
- HB24-1158 : would require changes to HOA notifications to owners on delinquent accounts and before lien foreclosures. Would establish a minimum bid.
- HB24-1337 : would limit a homeowner’s reimbursement of collection costs and attorney fees to 50%.Place restrictions on an HOA from foreclosing on a lien. Place restrictions on the purchaser of a home in foreclosure
- HB24-1078 : would reestablish license requirements for HOA community association
To view the article in its entirety, please click here.