NEW Collection Policy

Newly updated is the Aspen Wild Collection Policy, which is designed to ensure compliance with the Colorado legislature’s House Bill 25-1043.

This new law went into effect on October 1, 2025, and any collection action after that date will follow the new requirements. 
The Board has signed and executed this policy. The collection policy is one of your Governance Polices.

2025-10  Collection Policy

The following are changes to the law:

 

• Associations must, at least annually, request that owners provide telephone numbers, cell phone numbers, and email addresses to the association for contact purposes.
• After October 1, 2025, if the association does not have a telephone number, cell phone number, or email address for an owner, the association may send the Notice of Delinquency via regular mail in addition to certified mail.
• Both the Collection Policy and Notice of Delinquency must advise owners that they may request a copy of their ledger, and the association must provide the ledger within seven (7) business days of the request.
• The Notice of Delinquency letter must advise owners that a foreclosure sale could result in the loss of some or all of the owner’s equity in the property.
• The Notice of Delinquency must advise owners of the availability of information through the HOA Information and Resource Center, as well as information on credit counseling through HUD; such information must also be included in a Pre-Foreclosure Final Notice sent to the owner.
• Within five (5) business days of filing a foreclosure action, the Association must provide notice to owners about the ability to cure the foreclosure and the right of owners to file a motion to stay the foreclosure sale for up to nine (9) months so that owners can attempt to sell their property.

 

This policy was prepared by the Association attorney Molly Foley-Healy and is effective as of October 7, 2025. 

 

 

HOA  Board  Members