---
title: Does HOA board need to notify owners of loan?
description: If our condo board borrows funds to fund roof replacement, do they need to give notice to unit owners?
---

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# Does HOA board need to notify owners of loan?

| [Board of Directors](https://www.condoassociation.com/blog/topic/board-of-directors) |   [Condo Association Loans](https://www.condoassociation.com/blog/topic/condo-association-loans) |  

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## What do you think? Question:

### If our board of directors borrows funds to fund roof replacement.  Do they need to give notice to unit owners? Not an assessment just do not have money so considering a bank loan with five year pay back . Each unit owners monthly maintenance would be increased to cover loan and interest cost.

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## What do you think? Answers (3)

#### What are your thoughts on this topic?

***Comments and postings are not legal advice**, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other. *  
  

## Related Posts

### [Can assessment funds raised for one project be re-allocated to another?](https://www.condoassociation.com/blog/can-assessment-funds-raised-for-one-project-be-re-allocated-to-another)

### [Vote needed to spend reserve funds?](https://www.condoassociation.com/blog/vote-needed-to-spend-reserve-funds)

### [Condo board wants to spend all reserves prior to new assessment](https://www.condoassociation.com/blog/condo-board-wants-to-spend-all-reserves-prior-to-new-assessment)

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