Client Alerts
Changes to Common Interest Community Association Act
Public Act 97-0605, which became law August 26, 2011, provides many important amendments to the Illinois Common Interest Community Association Act ("CICA") and one amendment to the Illinois Condominium Property Act ("Act") (although the amendment does not affect condominium associations). Read more >
6-Month Rule For Delinquent Assessments Now Applies To HOAs
Prior to adopting this new law, if a unit went into foreclosure, the association’s lien for assessments was wiped out and the Association could not collect the delinquent assessments. Read more >
Assessment Collection Now More Important Than Ever
In a tough economy, when people are trying to figure out how to balance their bills, who topay, and who to defer, it is more important than ever for Associations to have a firm enforcement policy. Read more >
Association Tax Alert
If you are concerned by the amount of your recent Real Estate Tax Bill, it is not too late to challenge the assesed valuations for next year for all the units in your Association. Read more >
Changes to Laws Which Affect Associations
These new laws create the Community Association Manager Licensing and Disciplinary Act, amend the Condominium Property Act, and amend the Illinois General Not for Profit Corporation Act. Read more >
Common Interest Community Association Act Signed Into Law
The Common Interest Community Association Act was signed into law on July 29, 2010. Illinois is now one of the few states that has a separate law governing homeowner and townhome associations. Read more >
FHA Certification
New FHA regulations impact financing of purchase loans for units in associations and have the potential to cause far-reaching changes to financing of the sale of units. Read more >
FNMA and FHA Lending Guidelines Affecting Purchase of Units
Most loans for the purchase of units by individuals in condominium associations are sold to the secondary mortgage market. The current mortgage crisis, and the billions of dollars of recent losses, caused the secondary mortgage market to revise its guidelines concerning eligibility for loans for individual units delivered to or guaranteed by FannieMae ("FNMA") or the Federal Housing Authority ("FHA") in order to reduce losses. Read more >
KSN Announces Collection Status Online (CSO)
Today, KSN is pleased to announce the launch of its newly designed and enhanced Collection Status Online (CSO) which will make it easier for you to find information and updates on your pending collection matters. Read more >
KSN Implements Dual Point of Contact
In response to feedback from Property Managers and Association clients, KSN implemented Dual Point of Contact (DPC), which channels all Collections-related client communications through two primary KSN contacts: an account representative and court file representative. Read more >
Changes to Common Interest Community Association Act
Public Act 97-0605, which became law August 26, 2011, provides many important amendments to the Illinois Common Interest Community Association Act ("CICA") and one amendment to the Illinois Condominium Property Act ("Act") (although the amendment does not affect condominium associations). Read more >
6-Month Rule For Delinquent Assessments Now Applies To HOAs
Prior to adopting this new law, if a unit went into foreclosure, the association’s lien for assessments was wiped out and the Association could not collect the delinquent assessments. Read more >
Assessment Collection Now More Important Than Ever
In a tough economy, when people are trying to figure out how to balance their bills, who topay, and who to defer, it is more important than ever for Associations to have a firm enforcement policy. Read more >
Association Tax Alert
If you are concerned by the amount of your recent Real Estate Tax Bill, it is not too late to challenge the assesed valuations for next year for all the units in your Association. Read more >
Changes to Laws Which Affect Associations
These new laws create the Community Association Manager Licensing and Disciplinary Act, amend the Condominium Property Act, and amend the Illinois General Not for Profit Corporation Act. Read more >
Common Interest Community Association Act Signed Into Law
The Common Interest Community Association Act was signed into law on July 29, 2010. Illinois is now one of the few states that has a separate law governing homeowner and townhome associations. Read more >
FHA Certification
New FHA regulations impact financing of purchase loans for units in associations and have the potential to cause far-reaching changes to financing of the sale of units. Read more >
FNMA and FHA Lending Guidelines Affecting Purchase of Units
Most loans for the purchase of units by individuals in condominium associations are sold to the secondary mortgage market. The current mortgage crisis, and the billions of dollars of recent losses, caused the secondary mortgage market to revise its guidelines concerning eligibility for loans for individual units delivered to or guaranteed by FannieMae ("FNMA") or the Federal Housing Authority ("FHA") in order to reduce losses. Read more >
KSN Announces Collection Status Online (CSO)
Today, KSN is pleased to announce the launch of its newly designed and enhanced Collection Status Online (CSO) which will make it easier for you to find information and updates on your pending collection matters. Read more >
KSN Implements Dual Point of Contact
In response to feedback from Property Managers and Association clients, KSN implemented Dual Point of Contact (DPC), which channels all Collections-related client communications through two primary KSN contacts: an account representative and court file representative. Read more >
