Charlotte Greensboro Raleigh Association, HOA Manager Meets with FHFA Director Mel Watt on behalf of Carolina Homeowner Associations and Condominiums

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Condominium and Association manager urges Washington to help HOAs collect delinquent association fees from banks.

Paul Mengert, PCAM, CEO of AMG.; Director Mel Watt, Federal Housing Finance Agency; Jim Slaughter, Esq. Partner, Rossabi, Black, Slaughter, P.C.; & Tom Skiba, CEO, Community Associations Institute

Paul Mengert, President of Association Management Group, met with Federal Housing Finance Agency (FHFA) Director Mel Watt on Wednesday, February 4. Mengert led a delegation from the Community Associations Institute who expressed concerns about mortgage service organizations delay or inaction of mortgage foreclosure related to abandoned properties, sometimes known as “zombie foreclosures”. Mengert said in a written statement, "some lenders are delaying action for months or years, effectively cheating homeowner and condominium associations out of maintenance fees that the banks owe or should owe, resulting in other homeowners having to make up shortfalls."

Associations rely on owner fees or assessments for not only maintenance, but often utilities, insurance and quasi municipal services like road and sewer maintenance. North Carolina has over 18,000 associations, according to Mengert, most of which are run by volunteers. He said, "it is our hope that the Federal Housing Finance Agency will help us not only to protect capital markets, but also hard-working ordinary people who invest in homes, with no expectation of having to share the bills not paid by neighbors who default."

With 6 locations in the Carolinas, AMG features state of the art management techniques as well as “hands on” customer service that have enabled AMG to obtain better than 98% overall customer satisfaction. AMG’s unique and proprietary management systems allow them to offer a consistently higher quality of service than their competition. The six independent AMG companies manage condominium, townhome, and planned unit developments from their offices in Greensboro, Winston-Salem, Research Triangle Area, Asheville and Charlotte, North Carolina, and Greenville/Spartanburg, South Carolina. AMG’s philosophy is simple: "Provide superior management performance at a competitive price."

To learn more about Association Management Group, visit http://www.amgworld.com or http://www.hoacarolina.com.

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Nikki Warhurst

Dacy Flynt
Association Management Group - Carolinas
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