Results for: bank Archives - Kriger Law Firm

Owner Approval Of Bank Loans

If your association intends to obtain a bank loan, we recommend that you check with us first to see if owner approval of the loan is required before proceeding with signing the loan commitment and paying any bank fees.  Associations often make the mistake of moving forward with the loan only to find out laterContinue Reading >

New Law Requires Notification of Transfer After Foreclosure

AB 2273 (Wieckowski) makes needed changes to common interest development foreclosure procedures.  It adds Civil Code Section 2924.1 which requires that the Trustee’s Deed Upon Sale as to a property located within a common interest development be recorded within 30 days of the foreclosure sale. AB 2273 also amends Civil Code Section 2924b to require that information regardingContinue Reading >

State of Washington Is Ahead of California On This Important Point

If you are a member of CAI or receive CAI bulletins, no doubt you received word earlier this year that in a case arising in King County, Washington, the court put the lien interests of a community association ahead of the secured lender’s lien.  The case is known as Summerhill Village Homeowners Association v. Roughley.  Ms. RoughleyContinue Reading >

Homeowner defaults at 6-year low in California

I recently met with a board where the Big Question was, “How do we force a bank to foreclose on this no-good so-and-so of a delinquent owner?”  I didn’t have an answer.  Harumph. Then yesterday, I saw this article in the San Diego Union Tribune. It was no surprise to me to learn that banksContinue Reading >