<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1061566567187268&amp;ev=PageView&amp;noscript=1">
Skip to content

Condo board borrows from reserves. Owners afraid it will not get re-paid.

| Condo & HOA Assessments |   Board of Directors |  


Question:

Our Board is borrowing from our reserves to pay for a Special Assessment that was underfunded? I have asked how they are going to repay this money back to the reserves and they are evasive. I think they should let the owners know if it is going to be a second special assessment and how much each owner is required to pay. The Board has not committed any repayment plan to the owners. What are our rights?


Answers (10)

What are your thoughts on this topic? Please share your answers below. We ask that you remain respectful of each other, and be advised that responses are monitored.
 

Related Posts

Condo board wants to spend all reserves prior to new assessment

We are removing our condo board. What if they refuse?

Why is our condo board re-painting all our buildings?