Is it time to limit the power of the HOA?

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A panel of House lawmakers approved a series of recommended changes to state law that would limit the power of homeowners’ associations. The new proposal says the amount of the lien must be equal to or greater than six months of assessments or $2,500, which is ever is less. The association also has to offer the owner “a reasonable opportunity to cure the default by making payments under an installment schedule.” Third, the owner must either not accept the repayment plan or fail to make payments under that plan.

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