Farmington HOA

Delinquencies

Association Fees & Covenant Violation Fines

It is important to pay your fees and fines on time. You can lose your house if you don't.

Delinquency Policy

One month delinquent - letter without late fees

Two months delinquent - letter with late fees and intent to file lien

Three months delinquent - file lien ($75.00 fee)

At $500 delinquent (8 months) we are required to turn you over to the Attorney.  No one wants that to happen, it can ruin your finances and your credit.  Once we turn you over, there is an automatic $135.00 Attorney fee that is attached, not to mention other legal fees that rack up.  You'll miss time from work, perhaps have to hire an Attorney of your own.  Very quickly that $500 can reach a couple of thousand dollars.

Once you are $1,500 delinquent (this can include Attorney fees)  we reserve the right to foreclose on your home. We don't want to do this, it is in no ones interest for us to do this and the costs can increase dramatically.  $1,500 in delinquency becomes $3,000 almost overnight if we choose to foreclose with Attorney fees. 

If you think that by simply abandoning your home and walking away will absolve you of these delinquent amounts, we have the option of still turning you over to the Attorney for a lawsuit and collections, or directly turning you over to a collection agency.  Both of these actions can ruin your credit for a long time to come, once a judgement is entered, we can garnish your wages, or simply post it to your credit report.  In the future when you try to buy a car, rent a house/Apt. or buy another house, it will come back to haunt you and you'll still have to pay it off.

If your delinquent or think you might be going delinquent, please contact MSI and ask to speak to the accounts receiveable clerk for Farmington.  She will attempt to work out a payment plan to help you get caught up, or let the Board know of your situation and then we will contact you.  Depending on your financial situation, we have a couple of options at our disposal to work with you, but you must contact us first.