Associations Focusing On Foreclosures And Renters

September 8th, 2008 | Tags: Foreclosures

The community associations of residents are focusing on foreclosures and renters as well as secretive boards and slip shod management. This is what was told to the Illinois Condominium Advisory Council recently on the occasion of a public hearing at Naperville. Top on the agenda was the foreclosure problem.

The advisory body had been given the work of locating the major challenges that associations were facing and accordingly make suggestions for legal changes in the General Assembly. The council consists of lawmakers and veterans of the association. A series of public hearings are being held across the state prior to making a report at the end of the year.

Attorney Jordan Shifrin of Kovitz Shifrin Nesbit (Buffalo Grove and Chicago) is the chairperson of the council. He said, “We are seeking input from the public and agencies and individuals as to their concerns and issues to assist us in our ultimate deliberations.” About two dozen people had participated.

Hugh Hamill representing Elk Grove Village Association that included 1,100 single-family houses, town houses and condos expressed his concern for several common matters. He gave priority to the imbalances in calculations when some of the units were foreclosed upon. These were common occurrences. He complained that in the case of foreclosures the banks are able to get back a sizeable amount of loses because of protection clauses but the associations are left defenseless. Special assessments make the situation worse. Hamill wanted property managers to come under greater regulatory control. He had two proposals to make – make it mandatory for managers to have licenses and make it possible for complaints to be file against errant managers. Hamill also wanted the passage of a law that would allow boards to carry on business online via e-mail. Till now the law does not permit this.

Echoing the same line of thinking as Hamill was Dawn Lennon – one of the residents of Arlington Heights. She expressed her concern for the way managers functioned without any regulations especially in the matter of hiring contractors. However Lennon was against the matter about e-mail business. She thinks that e-mail transactions will just be another tool for the secretive doings of the board.

Robert Wahlgren of DuPage Community Housing Association wanted more units to be let out easily on rent. This will ease the monetary situation and also be of great help to rising number of foreclosure victims seeking shelter.