Delinquency Funding & Collections
Are you experiencing budget shortfalls due to unexpected delinquencies in your Condo or HOA? If so, Axela's HAAP program is just the solution you need. The Homeowner Assessment Assurance Program allows associations to monetize up to 100% of their delinquent account receivables.
In simpler terms, that means we'll pay you in advance on monies we might collect for you to help keep your budget stabilized as it would be in an ideal cash flow scenario.
Predictable Cash Flow
Stabilize your cash flow and never again need a special assessment or loan to cover regular budget shortfalls.
Once funds are advanced to the association, your board may choose to spend the money however you see fit.
No service fees. No applications fees. No interest. No points. No setup fees. No additional fees to the delinquent owner.
If Axela fails to collect on an account, the association is under no obligation to pay back moneys received.
Sounds too good to be true?
We get it. But it's real. We have developed an algorithm to accurately predict the probability of recovery for individual accounts. Using that knowledge, we are able to identify which delinquencies we are most likely to be able to collect, and we are so confident in that, that we're willing to put our own money on it.
With HAAP, we'll advance money on units where we are confident that we will recover our money when the delinquency is settled out. There is still no cost to the association for the service, and no extra fees levied on the delinquent homeowner.
The association gains a consistent cash flow, with absolutely no risk.
HAAP™ is provided in tandem with our Easy Collect™ program. The charges are the equivalent to the late fees and late interest and are passed through to the delinquent owner. The association never gets a bill.
Replicate a Perfect
Cash Flow Scenario
Condo or HOA
Your association is experiencing budget
shortfalls due to delinquencies.
Shores Up the association to alleviate
current financial pains.
As homeowners fail to pay, budget
shortfalls come right back again.
Repeat Monthly Funding
Maintains a steady and predictable
cash flow for the community.
What is HAAP?
HAAP stands for Homeowner Assessment Assurance Program and is used to replicate a perfect cash flow scenario for your community association. When a delinquent owner fails to pay their assessments, Axela will advance the shortfall to the association, which can use the funds in any way they please.
HAAP is only provided in tandem with our Easy Collect program, and the charges for this program are the equivalent to the late fees and late interest the association can charge a delinquent owner. There are no hidden fees, charges, service fees, application fees, points, or setup fees beyond what Easy Collect charges.
Homeowner Assessment Assurance Program (HAAP)
Updated on 2019-12-23T14:27:38-05:00, by .