Re: Can Board lien property for loan

Where are you located? Our docs have provisions to recall any or all the
board. We can also have the State (Florida) install an administrator (of
course we would have to pay the administrator) to run the HOA. This would be
a last, last resort but before I'd let them assess me 18000 I'd go this
route.
"cookoonest" <[EMAIL PROTECTED]> wrote in message
news:[EMAIL PROTECTED]
> Unfortunately our Board does not give a damn about the "Docs" and the
> Homeowners are so apathetic they have not cared either. Even when its
> pointed out to them.
>
> This may be about to change as they have completely bankrupted the
> Association and are faced with emergency repairs that could cost
(apathetic)
> Homeowners as much as $18,000 each, if they are not able to obtain a loan.
> They have been trying to obtain a loan for the past several months but
have
> not been successful.
>
>
> "Jerry Levine" <[EMAIL PROTECTED]> wrote in message
> news:[EMAIL PROTECTED]
> > 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?
> > > > >
> > > > >
> > > >
> > > >
> > >
> > >
> >
> >
>
>