Q: I am on my HOA’s board of directors. From time to time HOA members request HOA information, and I know under N.C. laws that nonprofit corporations must maintain certain records and make them available for inspection by HOA members. Do executed contracts between the HOA and vendors fall under this right to inspection? I am all for openness and transparency in HOA affairs, but I also have a duty to properly manage the affairs of the HOA. I want to be sure before allowing a member to inspect a contract.
How can you tell an experienced meeting chair from an inexperienced chair before the meeting is even called to order? There are lots of ways, but one key indicator of an experienced chair is such individual has a copy of the organization’s bylaws close at hand. Why? What is in that formal, bureaucratic document that might help someone preside over a homeowner meeting?
Q. I am a retired military veteran on disability. Despite three requests for a copy of my HOA’s bylaws and restrictive covenants, the board has not responded. I was able to obtain a copy of the covenants through other means. Now the board has found me in violation of various covenants and threatened to fine…
Many 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: