Denver council gives initial approval to HOA requirement to provide foreclosure rights informatio

Denver City Council approved on first reading a bill that would require homeowners associations to notify homeowners of their foreclosure rights.

The bill stemmed from Council President Stacie Gilmore’s district, where at least 50 Green Valley Ranch homes were foreclosed on over unpaid HOA fines. Most homeowners were not given notice of citations and were unaware they were on their way to foreclosure, Gilmore previously said.

If the HOA doesn’t address or keep proper documentation of these citations, homeowners can unknowingly accumulate thousands of dollars in fines, Gilmore said. She called on Gov. Jared Polis and Attorney General Phil Weiser to investigate the situation in March and has referred resident phone calls and emails to Weiser’s office since then.

In May, the state legislature passed HB 22-1137, which adds a variety of protections for homeowners. It requires HOAs to notify residents of any accumulated fines or assessments and attempt to set up a payment plan before initiating a foreclosure. It also sets a limit on late fees and interest and requires HOAs to create a policy to provide information about local foreclosure counseling services.

Denver’s bill reorganizes provisions regarding tenant rights and adds a new one regarding HOA notifications. Gilmore said it would prevent anyone from falling through the cracks of the state bill by requiring HOAs to provide written notice of rights and resources at least 30 days before initiating a foreclosure.

The bill will still need to pass a second vote, and should it pass, it will go into effect after the state bill does in August.

No council members called out the bill for discussion, so it passed unanimously in a block vote. 

The Denver City Hall building.
The Denver Gazette file

PREV

PREVIOUS

Biden to suspend tariffs on Asian solar panels following outcry over federal probe

The White House on Monday announced plans to suspend tariffs on solar panels imported from four Asian countries suspected of serving as proxies for China to evade trade sanctions imposed by the Obama administration on Chinese solar imports as far back as 2012. The import of solar panels from Asia by American businesses came to […]

NEXT

NEXT UP

Denver council gives housing affordability plan final approval

Denver City Council approved the adoption of all three bills creating new Expanding Housing Affordability Guidelines after hearing comments from around 50 speakers at its public hearing Monday night. This means a certain amount of affordable units must be developed alongside market-rate condos and apartments, with zoning and financial incentives included as well. Builders can […]


Welcome Back.

Streak: 9 days i

Stories you've missed since your last login:

Stories you've saved for later:

Recommended stories based on your interests:

Edit my interests