Delinquent Assessment Collection Summary of Collection Timelines
PRIOR TO SENDING TO COLLECTION
30 Days Delinquent - send out an account history/billing statement reflecting the balance due;
60 Days Delinquent - send out a "Notice of Delinquency" letter and an account history/billing statement and give the owner 30 days to pay in full; [ASAP has a sample letter that we provide our clients]
95 Days Delinquent - fax, email or mail ASAP a completed "Delinquent Owner Form," with an account history as far back to a zero balance as possible
AFTER CASE IS ASSIGNED FOR COLLECTION [95 Days Delinquent]
Case Set Up Stage [1 - 3 Days ]
Pre Lien Stage [30 Day Waiting Period Per Statute + 5 Days For Mailing]
Before A Lien Can Be Recorded [Board Approval Required Per Statute]
Lien Stage [30 Day Waiting Period Per Statute]
Notice Of Recorded Lien Stage [Within 10 Days After Recording Per Statute]
Notice Of Intent To Proceed Stage [30 Day Notice; Pending $1,800/More Than 12 Mos. Assessments DQ]
Before Foreclosure Can Be Initiated [Board Approval Required Per Statute]
Notice Of Potential Foreclosure or Other Action [$1,800/More Than 12 Mos. Assessments DQ]
Pre Notice Of Default [30 Day Notice - Optional]
Before The Notice Of Sale [Board Approval Required; At Least 30 Days Prior to Public Sale]
Notice Of Sale - [Sale Date Published (3) Consecutive Weeks Prior To Sale]
90-DAY Redemption After The Sale [90 Day Redemption Period Per Statute]
Payment Plans [Strongly Recommended, Fully Administered By A.S.A.P.]
Lender Foreclosure [Can Occur At Any Time During The HOA's Collection Process]
Small Claims Court [Only If Foreclosure Is Not An Option]
331 Piercy Road, San Jose, CA 95138 | Ph: 408-363-9600 | Fax: 408-754-0149 | contactus@asapcollect.com
