HOAs try new tactics to recoup lost dues

02/26/2013 | Charlotte Observer (N.C.), The

Homeowners associations overwhelmed with many foreclosed homes in their communities are trying different tactics to recover lost dues, including relying on short sales or renting out the properties. Dealing with nonpayment "has taken a little more involvement, management and oversight" by boards, says Andy Pressley of MECA Properties. "They've had to be a little more attentive to the issue. They don't want to foreclose, but they have to make decisions for the best of the community."

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