RE:  Higher Ground Lawsuits
November 15, 2018

Solera at Anthem is being sued by a group of investors who, in the big downturn in house prices, bought somewhere around 200 homes in Solera on speculation that prices would go back up.  Of course, the prices did go back up, and these investment groups reaped their profits.  However, when purchasing these properties, there were late charges, interest, etc., assessed that the investors incurred. This resulted in a class action suit in which Solera and other HOA’s were sued to recover the charges, along with any attorney fees. The lawsuits are known as Higher Ground Lawsuits.  Hundreds of HOAs are being or have been sued in the last several years.  As a Board, we have been aware of this suit for a couple of years.  We made a preliminary offer to settle last spring and again this summer.  The first offer was declined, and we have yet to hear on our second offer. There is no other information we can provide at this time,