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Ask Ely Your Own Question
Ely
Ely, Counselor at Law
Category: Legal
Satisfied Customers: 99981
Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
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I was leveied a $10,000 loss asscessment by my HOA which my

Customer Question

I was leveied a $10,000 loss asscessment by my HOA which my insurrance company refused to pay. The HOA has also demanded late payment and interest on the unpaid balance is that legal?
JA: Because real estate law varies from place to place, can you tell me what state the association is in?
Customer: Colorado Colorado Springs
JA: Has anything been filed or reported?
Customer: yes
JA: Anything else you want the lawyer to know before I connect you?
Customer: no
Submitted: 12 days ago.
Category: Legal
Expert:  Ely replied 12 days ago.

Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

I am sorry to hear about this situation.

The HOA can only demand late fees and interest if the declarations, CC&Rs (restrictive covenants), or bylaws allow it. Ergo, someone in your situation may wish to ask the HOA for a copy of all three of the above, and read through. Unless they specifically allow LATE FEES and/or INTEREST RATE on alleged late payments, they cannot demand them.

I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time. Rating my answer the bottom two faces/stars (or failing to submit the rating) does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.

Expert:  Ely replied 10 days ago.
Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question because you never responded or replied positively. I am simply touching base. Let me know. Thanks!