Pheasant View Homeowners' Association

PO Box 871463, Canton, MI 48187

Where do your association fees go?

Budget Pie Chart

Collection efforts

This is a brief “cliff-notes” ® update regarding the Pheasant View Homeowners’ Association (PVHA) foreclosure collection efforts for those of you who may not have been able to attend the subdivision annual meeting held Monday, November 14, 2016.

For over eight years, the subdivision Board of Directors has perused each and every homeowner owing annual assessments with the aid of various third-party collection agencies. The results have been extremely favorable to the extent that the subdivision has been made whole with all past debt to have been received with the last and final collection amount paid on November 4, 2016. This check totaled $15,368.17 and included past assessments, late fees, fines, interest, court costs, legal and collection fees.

The very good news is that as of November 5, 2016, the 2016 annual assessment has been received in its entirety! This is the first time in nine years that our yearly assessment has been 100% collected. I Thank you on behalf of the volunteer Board of Directors.

An update explaining in more detail the foreclosure to eviction process is available to read on this website. I have taken the almost nine-year process and condensed it to seven paragraphs. As each of you were potentially unknowingly an additional homeowner for the past seven months, I encourage you to read this “Collection Process Update”.

Mark Waldbauer - Treasurer

Delinquent, Late and Unpaid Assessments

Outside/Third Party Collection Fees

When Pheasant View HOA has uncollected dues or fees, the Board of Directors will turn these amounts over to a third party collection service. We have contracted with ASSOCIATION DUES ASSURANCE CORPORATION (ADAC) to collect past due amounts on our behalf. Once an account has been given to ADAC, all future money and communication is through ADAC until the outstanding amount has been collected and ADAC closes the case. When an account is overdue, Pheasant View assesses a late fee (currently $108) and monthly interest. ADAC collection fees are added to the total amount owing and they accumulate very quickly; some charges listed below are recurring monthly charges. A $108 late fee will become a $1200 collection fee in six months! Pheasant View receives what is owed to us (assessment, late fee and interest). Below is the current schedule for ADAC's cost and fees.

ASSOCIATION DUES ASSURANCE CORPORATION
SCHEDULE A - Costs and Fees
Revised: January 1, 2015

Collection placement and initial demand fee $195
Case administration fee (each month) $20
Payment plan administration fee (each month) $10
Lien letter fee $125
Lien filing fee $245
Lien release fee $195
Lien placement and release fee $30+
Payoff letter to bank $175
Bank Payoff preparation fee (not to exceed $995) $295+
Additional correspondence letters as needed (each) $100

Financial Documents (.pdf format) September, 2017

Monthly Balance Sheet

Monthly Checking Report

Monthly Savings Report

Monthly Transaction Report

Foreclosure Process Details and Conclusion

2017 Budget Report

2016 Budget Report

2015 Budget Report (end of year)

2014 Budget Report (end of year)

2013 Budget Report (end of year)

Please note that dues are to be paid by March 1 of each year. Late payments will be assessed a late fee and interest charges will begin to accrue. If legal action or the use of a third party collection agency is required, all associated costs will also be passed on to the noncompliant homeowner.

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