As secure and well-managed as most HOAs are, they are not completely immune from financial hardship. For example, unseasonably poor weather, such as severe storms and excessive rainfall, can mean that the neighborhood amenities require repair, and that might mean drawing deep into the HOA’s finances. While it’s always for the best to have a pool of funds available for such unplanned emergencies, when hard times hit one on top of the other, it can be the case that these funds might not be enough to cover everything. When your HOA can’t make ends meet, what is a responsible board to do?
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