Q: With assignment of quarterly assessment payments, would you consider lending to a recently built-out single family home neighborhood association in an affluent area of Dallas Fort Worth with 80 members and a good assessments payment history? The use of the funds would be for settling litigation, that is, the HOA would use the funds to settle litigation it is now defending. If so, approximately what term loan would you make and roughly what up front fees and interest rate would you charge? Thank you for your consideration.
A: CondoAssociation.com lends to condo associations and HOAs with a minimum of 30 units and a $100K loan amount. All owners must be in good financial standing with the association. Litigation funding is a typical reason for getting a condo association loan.
