Q: The board at our homeowners association (HOA) on Long Island has decided unilaterally to take out a seven-figure loan to revamp the recreational facilities. To repay it, the board is diverting our annual assessments away from their intended purpose of funding reserves. Our governing documents do not require the board to seek approval before borrowing, and do not put limits on how much the board can borrow. What can residents do?   Read the Q&A………………………………..