Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What are some reasons to apply for an HOA loan?

April 26, 2017hoa loan reasons

0

Posted

What are some reasons to apply for an HOA loan?

1 Answer

0

Posted

• HOA under-funded in reserves for imminent projects. • HOA under-funded needing short term funds for health and safety. • Defect litigation; as you are asked to provide numbers for defect problems it is almost always a loan scenario; this is perfect for a short-term loan with a long term amortization to keep payments lower until the case is settled.