Articles

Michigan Condos – Addressing New Lending Questionnaires

Michigan Condos – Addressing New Lending Questionnaires

It has been just over a year since tragedy struck Surfside, Florida, when ninety-eight individuals perished in when a 12-story beachfront condominium partially collapsed. The national response following this catastrophic loss was multifaceted, from State-driven...

Michigan HOA Awarded Legal Fees for Restriction Enforcement

Michigan HOA Awarded Legal Fees for Restriction Enforcement

Winning one appeal is hard; winning two appeals in the same case is harder. When the experienced Michigan condominium association lawyers at Makower Abbate Guerra Wegner Vollmer helped their HOA client win for the second time in Copperfield Villas v Tuer, No 356494...

Deferred maintenance at forefront with revisions to lender questionnaires: how the secondary mortgage market is responding to surfside tragedy

Deferred maintenance at forefront with revisions to lender questionnaires: how the secondary mortgage market is responding to surfside tragedy

On October 13, 2021, the Federal National Mortgage Association issued Lender Letter to take effect January 1, 2022. This Lender Letter temporarily revises the eligibility requirements for lenders issuing loans that may be purchased by Fannie Mae for properties located in condominiums containing five or more attached units.

Plan, Don’t React: 5 Things Every Board Member Must Consider for Long-Term Planning

Plan, Don’t React: 5 Things Every Board Member Must Consider for Long-Term Planning

Long-term planning is one of the primary duties an individual undertakes when seated on the board of directors for a community association. There is a constant balance that must be found between a desire to keep assessment levels steady (and low) and ensuring that the items which the association is responsible for repairing, replacing and maintaining are properly handled in the short and long-term.

Communications: When the board has different priorities

Communications: When the board has different priorities

The successful and effective administration of a community often depends on several players, each bringing a unique, and necessary, factor to the equation. This composition includes the diverse background of the community association board members, and potentially other resources, The successful and effective administration of a community often depends on several players, each bringing a unique, and necessary, factor to the equation. This composition includes the diverse background of the community association board members, and potentially other resources,