Clearbrook does not have a foreclosure problem

That statement is both accurate and correct. The board members’ concern is in-line and consistent with their fulfilling their fiduciary duties to the management of association affairs.

As a result of the board’s prompt action to notify and contact ‘‘all” delinquent unit owners, Clearbrook’s rate of past-due assessments is significantly lower than both local and national averages.

Clearbrook HOA has 240 single-family and townhouses. Since January 1, 2007, or during the past 18 months, there have been two foreclosures and two bankruptcies in Clearbrook. Expressed another way, 1.67 percent of the Clearbrook units have either been foreclosed or the owners are in bankruptcy proceedings.

Compared with other associations and the broader market in general, this is an extremely low rate.

The article also states, in the same sentence Clearbrook was mentioned, that ‘‘Property Management People (PMP) has added staff to deal with the mounting number of foreclosures.” That sentence improperly suggested or implied PMP’s staff additions were made strictly because of Clearbrook. That statement is not correct.

PMP added staff to our collections department in 2007 when we identified an increase in unpaid assessments overall in the 70-plus associations we manage. As written in the article, we did appropriately and correctly recognize the need to protect ‘‘all” of our association clients as best we can.

I understand The Gazette was not able to include our entire conversation verbatim. However, I do genuinely appreciate The Gazette publishing this letter clarifying that Clearbrook Homeowners Association does not have either a serious foreclosure or bankruptcy problem.

Both the board and PMP have and will continue to aggressively take all authorized actions to protect the association and the other residents from the effects of this national housing crisis.

Edward D. Thomas

The writer is CEO of Property Management People, agent for Clearbrook Homeowners Association.