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By CondoAssociation.com • October 20, 2015

Legal for NH for bank to make HOA enter a 30 year maintenance program?

30-year-maintenance-planI am a contractor bidding a job against a larger company.

The bank the larger company brought in wants a 30 year maintenance agreement to buy the loan, conveniently this larger company is the only company that has such a program.

I have asked around and no one has ever heard of a bank making an HOA pay an aditional $1.2 million in a 30 year maintenance program in order to give a loan for a building envelope project. Is that even legal?

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.
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