When a person buys a condo and needs a loan, the buyer must qualify, the condo must be appraised, and the condo project and HOA must be analyzed and approved by the lender.  The last time the condo market experienced a crisis was after the crash of 2008 when an estimated 10,000 condo owners across California stopped making their house payments and many stopped paying the HOA dues. By 2010, condo projects all over California were loaded with bank-owned foreclosures and huge levels of HOA delinquency.   Read the article…………………………….