WOAI Report: HOA Reform a Big Problem for HOA Industry |
Tuesday, 24 May 2011 |
HOA Reform Bill drawing criticism
Advocates say SB 142 will protect homeowners by requiring HOAs to notify property owners before foreclosing on their home and changing the way HOAs accept payments for delinquent bills.
HOA Reform Bill drawing criticism
Lauren Lea Reports: HOA Reform Bill drawing criticism
SAN ANTONIO-- A bill that could change the way homeowners associations operate is drawing criticism from HOAs and the companies that manage them.
Advocates say SB 142 will protect homeowners by requiring HOAs to notify property owners before foreclosing on their home and changing the way HOAs accept payments for delinquent bills. However, some board members and management companies say the bill is over-reaching and will end up costing HOAs and ultimately property owners.
The House is set to discuss the bill Tuesday. If they approve the bill, it will go back to the Senate for legislators to approve the changes.
http://www.woai.com/news/local/story/HOA-Reform-Bill-drawing-criticism/9jOSZLk6jkavh3bzB0V_Og.cspx |