TimE1 (West Virginia)
Posts: 1
Posts: 1
Posted:
I was wondering if anybody knew of any programs that exist by the states or Federal government to aide HOA's that were created and dumped by developers going bust.
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HOA needs help due to economic issues
Started by TimE1 • 1 replies • 1427 views
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SteveM9 (Massachusetts)
Posts: 3,699
Posts: 3,699
Posted:
Quote:
Posted By TimE1 on 08/07/2010 2:09 PM
I was wondering if anybody knew of any programs that exist by the states or Federal government to aide HOA's that were created and dumped by developers going bust.
I was wondering if anybody knew of any programs that exist by the states or Federal government to aide HOA's that were created and dumped by developers going bust.
No hand outs, no.
But as an association, you can petition the courts to force the developer turn over the association to "the association". Then you can deal with the financials, anything that needs to be completed, etc. If the pool isnt finished and the developer is bankrupt, you can raise dues or do a special assessment to complete it. Etc.
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