In 2021, the number of HOA foreclosure notices filed throughout all of Denver was 119. The Green Valley association alone filed 50 of the 119 HOA notices last year.
When homeowners fail to act, fines compound with late fees and interest and sometimes attorney’s fees.
“We are monitoring it and trying to figure out how deep this is,” Gilmore said. “We’re still in an information gathering phase, but we are trying to shore this up. We are trying to make sure that people can hold on to their housing and get the resources they need.”“The Homeowners Association of Green Valley Ranch creates curb appeal and increases property values by enforcing promises that the homeowners made to one another about the condition and upkeep of their properties.
“During the pandemic, bank foreclosures were stayed, but HOA foreclosures were not. Despite the legal right to do so, The Homeowners Association of Green Valley Ranch voluntarily suspended its collection and foreclosure of liens out of concern for housing during the pandemic. The reported increase in foreclosures is nothing more than resumption of normal actions which were halted in 2020, along with more recent enforcement actions.
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