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08/12/25 19:05:13 [ Login ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, [2], 3, 4 ]
Subject: can't print money, but just about as good


Author:
Butch Huber
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Date Posted: Tue, Aug 11 2009, 22:14:25
In reply to: Curious 's message, "Can't just print the money" on Tue, Aug 11 2009, 13:39:04
 I haven't read the covenants to verify, but I believe the board can vote to raise our dues, which is kind of like printing money. I am not sure what the limitations are, but your home is leveraged against liabilities in a weird and scary sort of way. If they raise the dues and you don't pay they can put a lien on your home and possibly worse. They can "find" the money simply by raising the dues.
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Replies:
Subject Author Date
Trusting personalityCuriousWed, Aug 12 2009, 9:45:02

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