Answers to Red Rock Financial’s Most Asked Questions
Below you can find a list of our most frequently asked questions. Click the arrow or the question to toggle Answers to your question(s). We are always looking for ways to make your online experience as helpful as possible; if you have any other questions, please feel free to contact us.
A: The assessments collected by the association are used to maintain many aspects of your community. You should continue to pay the assessments even if you are negotiating with your mortgage company.
A: The Seller/Title Company should have informed you of the homeowners association. The information regarding the homeowners association is also in all closing documents when you purchase the home.
A: The homeowners association is not equipped to call all Homeowners. Becoming equipped to make these calls would raise your assessments.
A: The Lien secures the debt for the HOA.
A: The homeowners association is entitled to foreclose on the property for unpaid assessments according to State law.
A: You are still required to continue to pay your assessments. You should contact your bankruptcy attorney with any additional questions regarding the Association’s secured debt.
A: Your homeowners association assessments or violations for your property not being in compliance have become delinquent.
A: The balance on your account could have increased for various reasons, the main reasons being additional assessments, late fees and/or interest charged by your association.
A: A Payment Agreement includes the past due balance for assessments OR fines, depending which account is with our office, as well as any assessments/late fees/interest for the duration of the payment and all collection fees and costs. Upon completion of the payment agreement, you will be reinstated with the Association and begin to pay your assessments directly to them.
