Is a Loan Right for Your Community?

At a time when many condominiums are old enough to require major repairs or renovations, community associations can be overwhelmed by the cost. The word is definitely out that a community association loan may be a viable option for many communities. In contrast to a lump sum special assessment, the ability to pay a loan back over a period of years has the potential to lessen the financial impact on owners. Of course, there are costs associated with any loan, including origination fees, interest, attorney’s fees, etc., but these tend to be relatively small in relation to the loan size, and often are only charged if the loan closes and can be paid with loan proceeds.    Read the article…………..


Related Articles

Understanding Homeowners Association Insurance

If you own a home in a planned development or you own a condo, then you likely pay homeowners association

The Truth about HOAs: Low Assessments Can Come at a High Price

As yourcommunity ages you need to set realistic repairs and maintenance budgets to take care of the little things as they break down

Condo & HOA Communication: What You Need To Know

communication is key to preventing and solving issues that are bound to arise