Re: Can Board lien property for loan

I live in an HOA. Most of the people living in an HOA and most of the board
members never read the docs or don't understand them or try and twist them
to their point of view. The only way you can protect yourself is to read the
docs and understand them so that when a board member tries to do something
'illegal', you can refer to the docs and point it out to them
"cookoonest" <[EMAIL PROTECTED]> wrote in message
news:[EMAIL PROTECTED]
> Thanks Jerry.
>
> I thought this was the case but wanted to be prepared with the facts.
>
> We have a free wheeling and out-of-control Board that is in trouble and
will
> try to get away with anything they can.
>
>
> "Jerry Levine" <[EMAIL PROTECTED]> wrote in message
> news:[EMAIL PROTECTED]
> > They can't pledge your home as collateral. They can pledge common
property
> > but not your personal property (your house).
> > "cookoonest" <[EMAIL PROTECTED]> wrote in message
> > news:[EMAIL PROTECTED]
> > > Can a Board (I'm in California) obtain a loan on behalf of the
> Association
> > > and pledge our property, via a lien as collateral, without a vote of
> > > Homeowners?
> > >
> > > Can they do this by majority vote or do they have to get each
Homeowner
> to
> > > agree to this?
> > >
> > > Are there any laws that refer to this situation?
> > >
> > > I know that they can place a lien on a property if someone doesn't pay
> an
> > > assessment but in this case they would be using the lien as collateral
> to
> > > borrow money which would THEN become an assessment.
> > >
> > > Anyone have any ideas on this?
> > >
> > >
> >
> >
>
>