Sunday, May 08, 2011

Proposed HOA foreclosure reforms stall in North Carolina

Foreclosures and other practices have drawn the scrutiny of state lawmakers, but legislation proposing changes so far is languishing in committee this session as state budget negotiations have taken priority.

Rep. Susi Hamilton, D-New Hanover, signed on as a primary sponsor to a bill that would limit the foreclosure power of associations. It would alter the law so that an association couldn't foreclose on a lien made up of unpaid dues or costs associated with unpaid dues, such as late fees and interest. The bill has not yet been heard in subcommittee, Hamilton said in an email.

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