Episode Details

Your HOA’s reserve fund is dangerously low—and that’s a ticking time bomb. Big repairs like roofs or decks? You’re staring at either crushing special assessments or impossible bank loans. Lenders now demand healthy reserve contributions, making mortgages harder to get if you’re behind. The state won’t bail you out, but a judge could appoint a costly receiver as a last resort. Boards sometimes dip into reserves to keep dues low, but legally, that’s borrowing—and must be repaid within a year. Thankfully, the board can create reserve plans without a full vote, and they’re legally required to report shortfalls annually. Ignoring reserves? You’re just accumulating debt you’ll pay when the bill finally comes due.

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