Educational Conversation With An HOA Lender & An HOA Project Manager (w/ Becky Leach & Colleen Chesbrough) - The Building Doctor Show Ep. 07

This podcast is part of J2 Building Consultants’ free webinar: The Building Doctor Show. To watch the show and view the video recording, Register for the LIVE Zoom webinar.   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.