April 23, 2010
Well, I have to say that I have always been a bit skeptical about people who blog. It's one thing to think you have something to say and quite another to think that anyone would want to read it. Having made that disclaimer, I have rationalized my way into an attempt to provide a weekly blog, the specific purpose of which is to share my thoughts and observations on the "fourth government". The first three governments being the Federal, State and Local. The fourth government I refer to is the Common Interest Development, a legal term used to describe the thousands of Californians who reside in Condo developments, Planned Unit developments and Co-Ops. Not only is this fourth government under siege from their own members who often times find them dogmatic and irrelevant, but recently this fourth government has come under attack from developers, builders, lenders and legislators.
More to come... but I want to quickly highlight a bill in Sacramento that is set for a hearing on April 28th. AB2502 would raise the foreclosure threshold from 12 months or $1800 past due to 18 months or $3600 past due. Now, most boards I know prefer to do everything possible to help their neighbors get back on track and avoid foreclosure, however raising the threshold will only put more pressure on already cash strapped association members. Other provisions in the bill included forcing associations to accept partial payments over extended periods of time and mandating the board's discussion of the payment plan and delinquency to be held in open session, in front of all members present.
Please contact your representative in the State Legislature and register your strong opposition to this bill.
That's all for now!
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