The term “under water” in real estate usually refers to a property that has no equity. That is to say that the money owed on it is more than what it can sell for. Seldom do we hear about an entire HOA or Condominium Association being “under water.” The brutal truth is that your entire community association can be under water. Unfortunately in many communities, nobody in authority acknowledges it until it’s too late. Too late is when homeowners are hit with a large special assessment for a capital improvement project. A special assessment so large it actually endangers your family’s economy.  So the question is: How do you know if your HOA or Condo is Under Water?   Read the article………………………….