Lake Monticello HOA may be on the hook for $600k federal loan (VA)

/ Owner - January 27, 2025

The Lake Monticello Homeowner’s Association (HOA) may owe the government a $646,843 loan.  According to information from its website, the HOA applied for a Paycheck Protection Program loan in April 2020 to avoid furloughing its staff.  President Larry Henson says he received notice from the Department of Justice in mid-December that the HOA would not be eligible for loan forgiveness and asked the association to resolve the issue before litigation.    Read the article…………………………….

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