State Senate passes HOA restrictions

Rules passed by the state Senate would place restrictions on HOAs.The state Senate has now passed a bill that would place a number of restrictions on homeowners associations in the state.The legislation would allow homeowners to pay any assessments levied by HOAs in installments, so they don't need to come up with a large sum of money at once. The law would also place new requirements on those selling Houston homes within homeowners associations. HOAs will be required to provide their bylaws and restrictions to buyers at the time of the sale.In addition, HOAs would be required to go through the courts system in order to foreclose on a home, even though banks and mortgage lenders in the state currently do not. An amendment to that part of the bill would also prevent HOAs from foreclosing on a member of the military who is on active duty.The bill joins a number of other similar measures, and heads to the House.Current state laws don't require homeowners associations from notifying property owners about unpaid debts, and allows them to rapidly foreclose on a home. Lawmakers have worked to reform the laws surrounding the groups for years, but have been unable to make progress.

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