Navigating the tricky terrain of debt collection can be challenging, but it’s not impossible if you’re familiar with the tools at your association’s disposal. One tool is foreclosure, which can be an intimidating topic, but the term simply means using an asset to cover a debt. But, before foreclosures can be pursued, there are other methods in tackling unpaid debts. From your association’s past due billing policy to an abstract of judgement, examine the options leading up to foreclosure.
With this article, discover how to utilize your association’s tool belt. By considering some efforts taken prior to engaging in foreclosure, your association can put the the best interests of itself and its homeowners first.