HOA Reserve Fund Crisis | Irvine News

Presented by The Plant Daddies — rare specimen trees, living art, and hand-carved limestone vessels and fountains for extraordinary spaces. Showrooms in Los Angeles and Irvine. Listeners of Irvine News Today receive 10% off with code LANEWS10. theplantdaddies.com/lanews Your HOA’s reserve fund is dangerously low—and that’s a ticking time bomb. Big repairs like roofs or decks? You’re staring at either crushing special assessments or impossible bank loans. Lenders now demand healthy reserve contributions, making mortgages harder to get if you’re behind. The state won’t bail you out, but a judge could appoint a costly receiver as a last resort. Boards sometimes dip into reserves to keep dues low, but legally, that’s borrowing—and must be repaid within a year. Thankfully, the board can create reserve plans without a full vote, and they’re legally required to report shortfalls annually. Ignoring reserves? You’re just accumulating debt you’ll pay when the bill finally comes due. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/e02fc26ccbe088d5