CAMS immediately stops payments from being received on any accounts on a closing hold. This is done to maintain the accuracy of the closing statement that was sent to the attorney. It is important that this information is accurate, as that amount will be collected at the time of closing. No late fees will be assessed during the hold.
If you normally pay your bills through your owner’s portal on our website, via ACH Draft, or eCheck, then no change is necessary.
IMPORTANT: If you pay through your Bank’s bill pay or by using a credit card through your owner’s portal, you will continue to be charged. If funds are received from bill pay or credit card, these funds are not credited to your HOA account, but they are simply held until the closing completes and then returned. Until the closing is completed or if the closing is canceled, you may elect to pause payments from your bank bill pay or credit card.
After closing, your account goes inactive, and you are no longer responsible for dues. Any refund checks will be mailed to the address on file. Please allow up to 10 business days after a completed closing.