---
title: Should we pay off the mortgage the developer holds on our clubhouse?
description: The board is considering the possibility of passing a special assessment to all homeowners in order to pay off the mortgage over 2 years instead of 15.
image: https://www.condoassociation.com/hubfs/Image-4.jpg
---

[Skip to content](https://www.condoassociation.com/blog/should-we-pay-off-the-mortgage-the-developer-holds-on-our-clubhouse#main-content)

# Should we pay off the mortgage the developer holds on our clubhouse?

<https://www.facebook.com/sharer/sharer.php?u=https://www.condoassociation.com/blog/should-we-pay-off-the-mortgage-the-developer-holds-on-our-clubhouse>

<https://twitter.com/intent/tweet?url=&text=https://www.condoassociation.com/blog/should-we-pay-off-the-mortgage-the-developer-holds-on-our-clubhouse>

<https://pinterest.com/pin/create/button/?url=https://www.condoassociation.com/blog/should-we-pay-off-the-mortgage-the-developer-holds-on-our-clubhouse>

<https://www.linkedin.com/shareArticle?mini=true&url=https://www.condoassociation.com/blog/should-we-pay-off-the-mortgage-the-developer-holds-on-our-clubhouse>

## What do you think? Question:

The developer of our community has a mortgage on the community clubhouse. It's a 30 year mortgage with 15 years left. The board is considering the possibility of passing a special assessment to all homeowners in order to pay off the mortgage over 2 years instead of 15. Any suggestions on whether this is a wise business move for the board to make?

<https://www.facebook.com/sharer/sharer.php?u=https://www.condoassociation.com/blog/should-we-pay-off-the-mortgage-the-developer-holds-on-our-clubhouse>

<https://twitter.com/intent/tweet?url=&text=https://www.condoassociation.com/blog/should-we-pay-off-the-mortgage-the-developer-holds-on-our-clubhouse>

<https://pinterest.com/pin/create/button/?url=https://www.condoassociation.com/blog/should-we-pay-off-the-mortgage-the-developer-holds-on-our-clubhouse>

<https://www.linkedin.com/shareArticle?mini=true&url=https://www.condoassociation.com/blog/should-we-pay-off-the-mortgage-the-developer-holds-on-our-clubhouse>

## 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

### [Our property manager controls the HOA board nominations committee](https://www.condoassociation.com/blog/our-property-manager-controls-the-hoa-board-nominations-committee)

### [Question on FL association loan term that is ending](https://www.condoassociation.com/blog/question-on-fl-association-loan-term-that-is-ending)

### [We are becoming a renter nation](https://www.condoassociation.com/blog/we-are-becoming-a-renter-nation)

```json
{
  "@context" : "https://schema.org",
  "@type" : "BlogPosting",
  "dateModified" : "2024-10-01",
  "datePublished" : "2024-10-01",
  "headline" : "Should we pay off the mortgage the developer holds on our clubhouse?",
  "image" : [ "https://www.condoassociation.com/hubfs/Image-4.jpg" ],
  "mainEntityOfPage" : {
    "@id" : "https://www.condoassociation.com/blog/should-we-pay-off-the-mortgage-the-developer-holds-on-our-clubhouse",
    "@type" : "WebPage"
  }
}
```