HOA BOD PRES... nearing forclosure.

Started by MichelleC7 • 10 replies • 1365 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

MichelleC7 (California)
Posts: 108

Posted:

I am not sure to even push this. But, one of my neighbors who is alway on the MLS noted that our own HOA PRES unit was listed for sale.

Interesting thing, it shows he is 21,000 in arears/default of his mortgage as of 2/2012.

If this is the case, why is he still here? I have seen the tell tale sign of skinny pages from Fed Ex for this person left in the lobby. You know the package from BofA seeking "to save your home".

How long can this person stay here?? SHould this be brought to the publics knowlege?

PeterD3 (Florida)
Posts: 708

Posted:

In most states if he/she is still a member (in good standing may not be required) than he/she can be President.

Why don't you 'push it' and tell everyone what you think you know.

What could it hurt?

What will you gain?

Go for it!

TimB4 (Tennessee)
Posts: 21,059

Posted:

Michelle,

If it is listed and shows 21,000 in arrears, it has become public knowledge.

If your on the Board and the assessments are current, there is no issue and, in my opinion, publishing it more or talking about the listing with no intent to purchase the property is just gossiping.

If your on the Board and the assessments are not current, you should make a motion that a lien be filed so the Association is protected if the property sells on a short sale. Talking about it outside of the board with no intent on purchasing the property is, in my opinion, gossip.

If your not on the Board and you want to bring this to the attention of the Board so they can make a motion to secure a lien (if needed), that would be appropriate. Print the MLS and contact a trusted member of the Board to provide the information. Further discussion . . . well, I think you know what I would say.

Tim

MichelleC7 (California)
Posts: 108

Posted:

Quote:

Posted By TimB4 on 11/14/2012 4:45 PM
Michelle,

If it is listed and shows 21,000 in arrears, it has become public knowledge.

If your on the Board and the assessments are current, there is no issue and, in my opinion, publishing it more or talking about the listing with no intent to purchase the property is just gossiping.

If your on the Board and the assessments are not current, you should make a motion that a lien be filed so the Association is protected if the property sells on a short sale. Talking about it outside of the board with no intent on purchasing the property is, in my opinion, gossip.

If your not on the Board and you want to bring this to the attention of the Board so they can make a motion to secure a lien (if needed), that would be appropriate. Print the MLS and contact a trusted member of the Board to provide the information. Further discussion . . . well, I think you know what I would say.

Tim

I am not on the board, and frankly, the neighbor who brought it to me.. has way more interests in this than I do. I suggested he push the envelope.. I was here just asking since this is such a good forum for this type of question. Nothing in our ccrs prohibit being in arears in dues etc.. so there is nothing from a ccr point that can be done anyway.

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Mich

Tim pretty well called it.

Generally the Bylaws say a member is in good standing if they do not owe the association any money. Good standing as can vote and serve on the BOD.

Their "personal" finances are of no interest to and/or none of the associations business, including you nor the "busybody" that brought it to your intention.

I suggest you drop it.

SteveM9 (Massachusetts)
Posts: 3,699

Posted:

I would have a private conversation with the president and tell him what you know, and ask him if he still wants to spend time being president given the current situation. If he does want to step down, I would set a date and allow you enough time to get another election together. If you dont deal with this now, someday he will be foreclosed on and you will not have a president and will scramble to put together an election. Might as well deal with it now.

PaulT6 (California)
Posts: 409

Posted:

Quote:

Posted By SteveM9 on 11/14/2012 6:23 PM
I would have a private conversation with the president and tell him what you know, and ask him if he still wants to spend time being president given the current situation. If he does want to step down, I would set a date and allow you enough time to get another election together. If you don't deal with this now, someday he will be foreclosed on and you will not have a president and will scramble to put together an election. Might as well deal with it now.

Steve,

I think you are assuming he isn't going to correct his financial problems. If he is confronted about his personal affairs and he survives he is probably not going to be a happy camper and will no doubt want to shoot the messenger. Our Board President, although only one vote out of five, is extremely influential on most of the other Directors.

Michelle,

Suggest you be careful about assuming what might happen in his personal life.

Paul T

SteveM9 (Massachusetts)
Posts: 3,699

Posted:

Quote:

If he is confronted about his personal affairs and he survives he is probably not going to be a happy camper and will no doubt want to shoot the messenger.

A successful HOA isn't about making 1 person happy, its about making everyone happy. If he cant see why the HOA was concerned about his situation, and retaliates, he has very low emotional intelligence and probably isn't the best person for president anyway.

PaulT6 (California)
Posts: 409

Posted:

Quote:

Posted By SteveM9 on 11/16/2012 6:03 AM

If he is confronted about his personal affairs and he survives he is probably not going to be a happy camper and will no doubt want to shoot the messenger.

Steve,

Point taken, but we are all guessing what will happen. If he sells his house he is no longer a "member in good standing" and will not be on the Board. If he gets it together, and still wants to be on the Board and is still qualified, no problem. I still see no advantage to publicizing his personal information even though it is "public". If the rest of the Board sees fit they can remove him from office. So, if he is doing his job in a productive manner I suggest the HOAS stay out of his private life and let the chips fall where they may.

Paul T

SteveM9 (Massachusetts)
Posts: 3,699

Posted:

Quote:

So, if he is doing his job in a productive manner I suggest the HOAS stay out of his private life and let the chips fall where they may.

I disagree. Its a good bet he is going to loose his house and he will leave the HOA abruptly. Its time to start talking about succession plans. Its time to start talking about his duties, pending items, succession plans to the next president, etc. If he comes out of it great, but now is the time to prepare for the worst.

If you ignore this info, and one day he is just gone, the HOA will be scrambling to figure everything out.

MelissaP1 (Alabama)
Posts: 13,836

Posted:

Foreclosures now a days can take years to progress. As long as the President is paying his/her own HOA dues, then there is no issue. The foreclosure is a PRIVATE matter and can be found out PUBLICLY if one chooses to do the research. Which someone did. Now what? Use this information for some kind of vandetta or just because it's information? I don't see the purpose in it as the foreclosure hasn't even taken place yet. Plus you and your members should just be concerned about if they are paying their dues. If not, then add a lien on this property ASAP. Which would have to go through the Board and approved by the President. A move that I am sure would not be popular. However, it's the only option the HOA has besided requesting he remove himself/vote out. Which is pretty much a waste of time because once the bank forecloses, they are no longer a member of the HOA.

Former HOA President

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here