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Are payments received applied to late fee charges before any monthly assessments?

April 26, 2017applied assessments Charges fee late PAYMENTS received

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Are payments received applied to late fee charges before any monthly assessments?

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Yes. When payments are received they are applied towards outstanding charges in the following order: 1) Late Fees 2) Penalties 3) Legal Fees 4) Special Assessments 5) Monthly Assessments Charges of each type are paid in order of age; oldest first.