clsung1 asked:
I’m a townhouse owner in California. I was recently tring to refinance with a lender that requires my HOA to sign the HOA certificate. The certificate contains the usual questions about the community such as how many units are there, how many are owner occupied/rented, is there any pending litigation, etc. But my HOA refuses to sign it. They won’t even talk to my agent or the lender on the phone. They say they can only talk to the home owners, not to any third-party. I’m not able to get this loan because the lender is not able to verify the source of information from my HOA. My HOA is even telling me to find a lender that does not require the HOA certificate. I don’t want my HOA to decide whom I can refinance with. What can I do at this point?
Randy
I’m a townhouse owner in California. I was recently tring to refinance with a lender that requires my HOA to sign the HOA certificate. The certificate contains the usual questions about the community such as how many units are there, how many are owner occupied/rented, is there any pending litigation, etc. But my HOA refuses to sign it. They won’t even talk to my agent or the lender on the phone. They say they can only talk to the home owners, not to any third-party. I’m not able to get this loan because the lender is not able to verify the source of information from my HOA. My HOA is even telling me to find a lender that does not require the HOA certificate. I don’t want my HOA to decide whom I can refinance with. What can I do at this point?
Randy
Mark
Check your HOA contract. It’s not likely that they may refuse to sign the document. Short of that, you’d have to retain an attorney.
-MM
Comment by Wondering — August 4, 2010 @ 8:06 pm
Claude
Contact the president of the hoa. That is just BS. The management company usually has a contract that comes up once a year and if they won’t treat the homeowners with respect then dump em.
Comment by Rico — August 7, 2010 @ 3:18 am
Nellie
most of the lenders require HOA to sign HOA certificate, so i agree with you to fight this. what they try to hide? they require by law to provide this information to the third party if you, the owner give them permission.
Comment by bianca — August 8, 2010 @ 8:53 am