LOAN Vs. Assessment? 100 unit condo having to deal with roofing project. New York State condo law allows bank loans for capital improvement projects. Thoughts on bank loan vs. assessment? Carmel NY.

I was advised by PNC Bank that a Condo Association wasn't "Approved" by the government for Manufactured Home Lending. How can they operate as a Condo Association if it doesn't meet the Government Approval? There are only two banks that will loan money and it's at higher interest rates.

Our 411 unit association foreclosed on 4 condos 7 years ago. They had a bank loans in the first position. They have never taken any action and there are 7 years of unpaid dues. We want to sue the bank for the dues. Is this possible?

Can a HOA Board approve a loan for millions of dollars in purchasing the Clubhouse from the developer by themselves without going to the membership for approval.

Our Condo Board is trying to require a loan to make major repairs in our building, but I am afraid that the bank will put a lien on all the co-owners property.

Condo trustee signed a document stating that 75% of the Membership voted to allow a loan to be sought by the Trustees. It clearly states that

What happens if a 10 year HOA loan is taken out by an association and is allocated to all its unit owners, and one of owners sells his/her unit?

HOA has three new members, yet we can’t figure out why a loan balance shows up on the financials from the management company

Our association recently obtained a loan from a bank to perform roofing needs to all units in the Association.

I recently moved into a condo association which did not disclose in any fashion on its financials a loan of over $300,000.