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Tag Archives: allow

The President’s Job Description

Serving in the role of HOA president is not an easy job. It is one that demands leadership and exemplary skills in presiding over meetings. Many HOA’s are registered as non-profit corporations and in turn, the president can be thought of as the CEO of the corporation, (serving of course in a voluntary capacity without pay). Perhaps more importantly, he or she is elected by the membership to serve the community and elected by the board to lead the board through challenging situations and decisions.

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Penny Wise and Pound Foolish

During this tough economy, associations are looking for ways to trim expenses; but opting out of insurance coverage is not a prudent choice.  In my opinion, even the smallest homeowners’ association needs insurance coverage.  If an HOA owns any property, then there is a risk that a resident, visitor or guest could be injured or hurt on that property.  Insurance claims are rare, but it is too risky to consider going without coverage.

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New guidelines in place for FHA-backed condo loans

Michael HunterMany homes today are purchased using FHA-backed mortgage loans. One recent estimate is that at least 30 percent of condo purchases are made with such loans.

To qualify for FHA-backed loans, condominium projects must be approved by the FHA based upon specific guidelines. Those guidelines have been in flux for many months, and the FHA just issued comprehensive new guidelines June 30. Some of the notable provisions:

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