HUD program offers investors a discount on default properties | 2016-07-26 | HousingWire

Because many servicers and investors are new to the CWCOT program, Chronos Solutions offers high-touch service that walks them through the whole auction process. Whether the property is being sold through a live auction at the courthouse or through an online auction process, Chronos maintains close contact with the bidders through RealtyBid.

Source: HUD program offers investors a discount on default properties | 2016-07-26 | HousingWire

HOAs & Unlicensed Practice of Law

The Florida Bar Association has a proposal to require Homeowners’ Associations to hire a lawyer for such tasks as sending demand letters for unpaid dues, violations of CCRs, collecting debts, and drafting liens. It is under review by the Florida Supreme Court. The Florida Legislature passed a law last session that would allow the HOA’s managers to continue those administrative duties. It’s unclear whether the Florida Supreme Court’s opinion (requested by the Florida Bar Association) will be affected or how their opinion might be influenced by this new law. There is no set time by which we can expect an opinion from the Florida Supreme Court. Just another budget item to delve into on your HOA financials. Might there be legal risk lurking in how your HOA’s management handles its legal risks? Also verify what is covered for Board members and HOA members within your association’s insurance policies.

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