Frequently Asked Questions

Equity Experts

6632 Telegraph Rd #339

Bloomfield Hills, MI 48301

You can reach us Toll Free at (855) 321-3973 or by email at info@equityexperts.org.

Our fax number is (248) 289-7909.

We are open Monday through Friday from 8AM to 8PM Eastern Time.

Nothing! Our costs are communicated to the debtor, so the association pays nothing out-of-pocket unless our services are cancelled.

We will continue to pursue the debt until the file is paid in full. Our average resolution rate is 100 days.

Our costs are in line with those of a typical collections attorney. Equity Experts offers a more proactive approach to HOA collections at a higher recovery rate and no cost to the association.

With authorization from the association, we will reach out to the previous community collection agency/attorney to have current files transferred to our office. However, any costs associated with cancelling service with the previous HOA collection solution are at the expense of the association.

No. Our collection process involves a reasonable number of letters and phone calls to alert the homeowner and pursue the debt in the most understanding, empathetic way possible.

Equity Experts can coordinate filing a proof of claim on behalf of the association.

Equity Experts prorates the amount owed between the previous debtor and new owner. We continue pursuing the previous owner through our Full Circle collection process and the bank for dues owed from the date of foreclosure.

Investors can purchase the Jr. Lien Rights from the association to pay off the Sr. Lien holder and possibly take possession of the property. Depending on the equity in the property Jr. Lien Rights can be quite profitable.

An account becomes unsecured once a sale or foreclosure takes place. We call it “unsecured” because the previous owner is no longer bound to the debt by a property lien.

No. Unsecured accounts cannot be foreclosed on because the property is no longer in the debtor’s possession.

The unsecured process goes from initial notice to lawsuit in approximately 45 days.

The duration of the lawsuit varies depending on how soon we can get a hearing date scheduled.

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