| Due date: 1st of Month |
HOA does not receive monthly assessment |
| 15 Days after due date |
According to CA Civil Code Section § 5650(b), assessments are considered late 15 days after being due. A 10% or $10 fee (whichever is greater unless a lesser amount is stated in the declaration) is now due in addition to the monthly assessment. |
| 30 Days after due date |
If assessment due Jan 1st is still not paid, HOA can charge interest on the assessment of 12% yearly (per CA Civil Code Section § 5650(b)(3). Demand for payment letter sent by HOA |
| 60 Days after due date |
If January and February assessments still remain unpaid, the case should be submitted to CHCS. Per CA Civil Code Section § 5660 a letter is sent demanding payment within 30 days. This letter also informs the homeowner that a non-judicial foreclosure will begin if payment is not received within 30 days followed by a lien on the property being recorded. This Pre-Lien letter |
| 90 Days after due date |
Per CA Civil Code Section § 5675, after the board meets and votes to record a lien in an open meeting, a lien is recorded with county clerk and the foreclosure process begins. |
| 120 Days after due date |
Board is required to meet and vote to foreclose in executive session. |
|
|
| 130 Days after due date |
Per Civil Code Section 5740, A Notice of Default is recorded with the county clerk. Homeowner informed has 90 days to settle delinquent assessments along with any additional late charges, interest, collections fees before property sold. |
| 220 Days after due date |
90 Days after Notice of Default being recorded, a Notice of Trustee Sale is recorded leading to a public auction of the property after 28 days from recordation. |
| 250 Days after due date |
Property is sold at public auction to the highest bidder and paid in cash. Should the property not sell at auction, the property reverts to the HOA. |
