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Educational Conversation With An HOA Lender & An HOA Project Manager (w/ Becky Leach & Colleen Chesbrough) - The Building Doctor Show Ep. 07
Manage episode 382013197 series 3512845
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- What kind of prep work should we do to get ready for a special assessment?
- We have a special assessment coming, but we don’t know all the details yet. When am I obligated to break the news?
- How should we plan to maintain after repairs are done? (new types of siding, roof, windows I’m not familiar with…)
- We have a special assessment coming up. Can people pay in full up front to avoid interest?
- Can you explain the process of pay applications with contractors and prepays? How does it affect interest on the loan?
- We got a loan to do siding and roofs but it looks like we’re going to have a lot of extra money. Is it okay to use the money for that since it’s all for the community?
- Does an HOA loan cause a lien to be filed on my unit? Am I able to refinance during this process? What happens at sale time if I still have a loan?
- What if we fall behind on our dues but not the assessment? What if my neighbor doesn’t make their payments?
- We had a special assessment a few months back and I’m pretty sure the management company is not keeping track of the money.
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