Colorado Lawmakers Push for HOA Law Reforms Following Disturbing Auction Results
Colorado Governor Jared Polis and Democratic state lawmakers are calling for further changes to the state's homeowners association (HOA) laws following an investigation by The Colorado Sun. The investigation revealed that many HOA-foreclosed properties have been sold at auction for significantly less than their market value, causing homeowners to lose their equity. Polis stated that HOAs should not drain families or individuals of their savings and that more work needs to be done to protect property owners and prevent them from being ripped off. State legislators plan to examine the issues raised in the investigation and enhance the rights of property owners.