HOA Issues Can Impact the Ability to Obtain Financing and Thwart Sales of Homeowner Properties

Selling a condominium or a home that is part of a homeowners association involves lender inquiries into the business affairs of the homeowners association itself, and not just the intended borrower who is looking to obtain a mortgage on a unit or a home within the community. Typically this occurs in connection with either a refinance loan by a current owner or a new loan that has been applied for by a prospective buyer of a property located within the community.