BULLETIN NO: 2025-15<\/p>\n
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BULLETIN DATE<\/p>\n
December 19, 2025<\/p>\n
Jeff Spies<\/p>\n
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\u5171\u901a\u306e<\/p>\n
\u7b2c\u4e09\u30e9\u30b0\u30ca\u30d2\u30eb\u30ba\u30df\u30e5\u30fc\u30c1\u30e5\u30a2\u30eb<\/p>\n
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03-25-185<\/p>\n
EFFECTIVE DATE | January 1, 2026<\/p>\n
SUBJECT: Revised Third Financial Qualifications Policy<\/p>\n
THIRD FINANCIAL QUALIFICATIONS POLICY REVISIONS – EFFECTIVE JANUARY 1, 2026<\/p>\n
On December 16, 2025, the Third board of directors adopted revisions to its financial qualifications<\/p>\n
policy (Resolution 03-25-185), allowing the following clarifying changes:<\/p>\n
1<\/p>\n
Under section | (c), the last sentence was clarified as follows: \u201cIf escrow has already closed<\/p>\n
at the time the false or misleading information is discovered, the Applicant will still be<\/p>\n
recognized as an owner; however, the owner will be considered not in good standing and<\/p>\n
may be scheduled for a disciplinary hearing. After a duly noticed disciplinary hearing before<\/p>\n
the Board, the Board may impose a fine based on the Schedule of Monetary Penalties,<\/p>\n
suspend member privileges, and\/or consider legal action.\u201d<\/p>\n
Under Section Il (b), language stating that \u201conly aged accounts (180 days) will be considered\u201d<\/p>\n
was added.<\/p>\n
Section Il (b)(1) was reworded to \u201cIncome from real estate.\u201d<\/p>\n
Section Il (b)(9) was added to read: \u201cEquity in U.S. residential property may be considered.\u201d<\/p>\n
Section IV (b) was clarified by removing language that implied that an applicant’s primary<\/p>\n
residence must be located in California.<\/p>\n
Section IV (e)(9) was clarified by indicating that the board may withhold its approval of a<\/p>\n
guarantor if guarantor guarantees another unit within Laguna Woods Village.<\/p>\n
Section V (b) was reworded to clarify the annual income requirements for multi-unit<\/p>\n
purchases.<\/p>\n
NOTE: Please delete all outdated Third Mutual Financial Qualification Policies from your system, as<\/p>\n
this policy is frequently revised.<\/p>\n
Locate the most up-to-date financial qualifications policy at lagunawoodsvillage.com > Sales.<\/p>\n
Realtors and escrow officers must inform their staff and clients of these revisions.<\/p>\n
Email sales@vmsinc.org with questions about the revisions. Thank you.<\/p>","protected":false},"author":28,"featured_media":0,"template":"","document_category":[1227],"document_type":[53],"class_list":["post-79245","document","type-document","status-publish","hentry","document_category-realtor-info-bulletins","document_type-other"],"acf":{"document":79246,"resolutions":null,"legacy_id":"","pdf_extracted_text":""},"yoast_head":"\n