I have been on the Board of our small Georgia Condo Association for just over a year now. The HOA has a total of 27 condo units.
One of our condo owners wants the Condo Association to become FHA approved so he can get FHA refinancing. I, along with two other Board members, feel the costs, time, paperwork, and disadvantages to becoming FHA approved are simply not worth it.
The condo owner is persistent, and I’m afraid he may end up suing our HOA. My opinion is that the Board should making decisions based on what is good for the Condo Association as a whole, not just one condo unit owner.
Does anyone have any suggestions on how to handle this?