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Can condo association or HOA loan be paid off early?

| Condo Association Loans |  


Question:

Our association recently obtained a loan from a bank to perform roofing needs to all units in the Association. If a member wishes to pay in full, their part of the loan, will they be exempt from any future default of that loan by the rest of the members in the association? Who would provide that authorization if it is acceptable?


Answers (4)

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