Nationwide Experience, Neighborhood Touch
PO Box 806044
St. Clair Shores
,
MI
48080-6044
ph:
(586) 294-2322 (ADAC)
fax:
(586) 415-8600
alt:
(866) 608-2322 (ADAC)
rjohnson
lmanion
ADAC News
FANNIE MAE and FREDDIE MAC will be precluded under current Federal Rules now taking effect, from funding Community Association mortgage re-purchases from local Commercial Banks, where the Association has over 15% delinquency for over 30 days. These proposals squarely put the onus on the Association Board to collect Association Dues timely. Re-sales of Community Association properties likely will be either impossible, or at higher interest rates, for incoming Co-Owners to Delinquency-prone Associations. New practices by Association Boards are mandated by these new Rules. If your Association has a Delinquency rate approaching 15% at 30 days, consider joining up with ADAC to create a Program to address owners who are Delinquent, to help your Association Co-Owners who pay timely, keep the ability to sell their units at reasonable prices! Local Banks will have to be the ultimate investors in your Association Mortgages, if FANNIE MAE and FREDDIE MAC are not permitted to invest in your Association Mortgages, because your Association Board has not kept Delinquencies below 15% at 30 days. ADAC has a Program that will help turn your Delinquencies around!
ADAC ACTIVITIES
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2011 Bill Summers Golf Outing - St. Louis
ADAC will be attending the Community Associations Institute Golf Outing in St. Louis on September 15th. We are hoping to be able to meet all of the St. Louis Metro CAI Chapter members and that it will be a great day of golfing!
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MORE EVENTS TO COME!!!
Please check back frequently to find out more about our upcoming events, appearances, and informational seminars. We update our website frequently! -
UCOM CONVENTION
Many of you may remember attending the UCOM Convention where John Rickel was a speaker regarding Association Dues Delinquency. Please look for ADAC and look for upcoming articles from John in the UCOM magazine. Click the link above to learn more!
CAI National Convention
The 2011 Boca Raton Convention was a full house with lots of insights. Plan now and make your reservations for 2012 Convention in Las Vegas, NV.
Links
United Condominium Owners of Michigan
Contact us today!
We welcome your questions and queries. Please see our
Contact Us page for complete contact
information.
Other Partners
ADAC works with Community Association Banc for all of our payment options. For more information regarding using CA Banc for your own Association please click the logo above.
PO Box 806044
St. Clair Shores
,
MI
48080-6044
ph:
(586) 294-2322 (ADAC)
fax:
(586) 415-8600
alt:
(866) 608-2322 (ADAC)
rjohnson
lmanion
