More News on the Proposed Community Association “Superlien” in Georgia

English: Symbol of Georgia State Senate .

English: Symbol of Georgia State Senate . (Photo credit: Wikipedia)

The Senate Banking and Financial Institutions Committee is poised to consider Georgia Senate Bill 56 and a priority lien for community associations this Friday, February 22, 2013.

Georgia ranks in the top of the nation for the number of foreclosures, and communities across our state continue to feel the devastating economic impact of foreclosures. A priority lien would help community associations by requiring that a foreclosing bank satisfy up to six months worth of homeowners or condominium owners’ association fees that are due at the time of foreclosure.

For more information regarding how to contact your legislators regarding the bill, go to https://www.facebook.com/#!/cai.georgia provided by the legislative action committee of the Georgia chapter of the Community Associations Institute for a more extensive discussion and contact information for the legislators.

 

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