PrioityLien Bill- What Home Owners Need To Knowby Carolyn ThompsonHome Owner Associations, Condominium Associations, and Co-operatives are claiming bankruptcy at staggering rates. As property owners are unable to afford their mortgages they frequently elect not to pay their association dues and what they may consider less important monetary obligations.As a result, Home Owner Associations and Condominium Associations are unable to pay for the expenses that they had planned for. Numerous associations pay for common area elements, plumbing, roofs and other structural and non-structural aspects of properties. Several associations, primarily condominium associations and co-operatives also pay for utilities. They also pay for garbage removal.When an association is unable to pay for roof, plumbing and other repairs additional damage is caused and the entire community suffers. This can cause a further devaluation of property and poor living conditions.I recommend a national priority lien law for Home Owner Associations, Condominium Associations and Co-ops. This means that the first lien holder of a property is the taxes and the second lien holder is the applicable home association. This would help create coverage for the associations when the property owner falls behind on the association dues. When the property is sold the lien is addressed.Associations in states such as Maryland and Florida are suffering terribly because they have not been able to get a priority lien bill through. While other states, such as New Jersey have had priority lien in place for condominium associations for several years and are now taking steps to add coverage to home owner associations.If you reside in MD or FL, you can click on the link for the State Senate and the link will direct you to your state senate. Tell your Senator that you want a plan for financial change. Reach yourMaryland State SenatororFlorida State Senator. Tell the Senator that you need a bill written and passed that will provide everyone protection and it won't cost them a penny.In fact, when properties are in better care and they sell for more and the states can receive more in property taxes. Tell your State Senator that you want a bill passed that will help ensure the safety of your community and good living conditions. These are common sense laws that must be passed. Don't let banking and mortgage lobbyist be the only ones that have the Senators' attention. Take action for your neighborhood, take action for yourself. If you don't like the where the lifestyle and economy are going, then take action.If you don't reside in one of these three states, then please research what your state law is. A quick email to your State Senator will give you the answers. Do a Google search for 'your state state senate' . For instance, I was able to find Maryland State Senators contact information on the above link by typing a Google search 'Maryland State Senate'. I chose the third result which was Senator by name. This allowed me to provide you with a link that will permit you to select your Senator.Once you have determined whether or not your state has a priority lien law, take a moment and comment on the priority lien blog. I will keep track of all of them, as well as your suggestions and comments.If there is another cause that you would like consideration for or a law passed, drop me a noteReal Estate Search and SaleLLC Blog. I will look into it and consider it for promotion, through articles, press releases, social media marketing and more marketing and advertising sources, via www.netmarketingsource.com. Our marketing partner, who help make this article possible.Priority Lienshould be your first priority.Real Estate Search and Sale ...read more