New Pending NC HOA CCR disclosure law

Started by MikeS1 • 2 replies • 1819 views

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MikeS1
Posts: 521

Posted:

This will be interesting to follow these proposed laws in North Carolina. I don't see anything even getting out of the gate, but we'll see. This NPR show that took place on 1/31/2012 is very interesting, informative, entertaining, lively, sometimes rediculous and somewhat humerous. It sounds like disclosure was never required until Jan of this year. Some of the surveys referenced in this dialogue show that the vast majority of homeowners (who live in HOAs) are very satisfied with their board and their HOA. Some of the content is about the recent hearings in N.C. about homes that have been forclosed on for a $50 rules violation fee/assessment. Other issues, Board transparency, abusive boards, Homeowner apathy, developers, lack of volunteerism, etc. This was on the Hoatalk News links. Enjoy.

http://www.wfae.org/wfae/18_93_0.cfm?do=detail&id=14286

KellyM3 (North Carolina)
Posts: 2,239

Posted:

The North Carolina state representative pushing this originally wanted to prevent all HOA foreclosures. His staffer told me that people who live in HOA communities shouldn't have to pay HOA fees when they've got their mortgage and other bills to pay, then cites the foreclosure over $50 and how some HOAs won't communicate or deal with homeowners in distress.

I would imagine less than 15% of HOAs based in North Carolina could preserve their FHA-accreditation (if they have it in the first place) under these proposals. The sentiment is clearly anti-HOA from the perspective of those pushing for reform but these politicians CERTAINLY would certainly be "outraged" when HOAs shut down the pool and other amenities for lack of adequate HOA cash flow - resulting home owners accusing HOA boards of collecting dues and not provided services.

Also, it appears that "continuing education" courses could be on tap for HOA board members as well as licensing of property managers. I'll quit before paying and enduring continuing education for a volunteer position with no benefits other than civic pride. Ain't worth it.

KellyM3 (North Carolina)
Posts: 2,239

Posted:

Subtract one "Certainly" from the above paragraph.

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