Everyone has heard a horror story about delinquent payments to a homeowners' association leading to liens or, in the worst case scenario, foreclosure. In reality, only about 12 of the 16,000 foreclosures in Nevada in 2008 were the result of money owed to a homeowners' association.

"It is extremely rare," said David Stone, president of Nevada Association Services, Inc. "You never hear about the 99.9 percent of people who work everything out. You only hear about the less than 1 percent that don't."

Stone started NAS, Inc. , a collection agency that works closely with HOAs and specializes in non-judicial foreclosures, in 1999. The same year he moved to the master-planned Summerlin community, which has one of the most active homeowners' associations in the state. It gives him a unique perspective on the sometimes confusing world of HOAs.

Stone understands the difficulties of the economic downtown. His collections agency doesn't want to see people lose their homes because they got behind on HOA dues or fines. So he makes daily efforts to help those who owe catch up long before they face the threat of foreclosure.

The best way to avoid getting behind on payments to your association is to pay what you owe. HOAs, like everyone else, have been hit by the recession. More than ever, associations are aiming to collect the money they are owed.

If you have found yourself behind, Stone recommends:

> Contact your associations' management and explain your struggles. Most associations will set up a payment plan for residents.

> If you receive a letter from a collections agency, respond to it. The average debtor only owes about $1,500.

> Make a written request for a payment plan.

> Be realistic about the length of a payment plan. Most associations will set up a plan that ensures full payment in less than six months. The payment plans typically do not charge interest.

> Do NOT ignore notices. "People stick their head in sand and think, if they ignore the notice, it will go away," Stone said. In reality, it will only get worse

Nevada Association Services, Inc. http://www.nas-inc.com) which serves HOAs and community mangers state-wide, is headquartered at 6224 W. Desert Inn Road in Las Vegas.

Source:

Nevada Association Services, Inc.

6224 W. Desert Inn Rd.

Las Vegas, NV 89146

Phone: 702-804-8885

Phone: 775-322-8005

http://www.nas-inc.com