December 30, 2020
Suggested Legal Structure for Owner/Occupied Affordable Housing Developments Using Blanket Mortgage Financing
Today, most newly constructed owner/occupant housing developments are governed by a condominium and/or non-condominium homeowners association (“HOA”) made up of the owners of the homes in the development. The housing crash and the great recession which followed (the “Crash”) exposed many flaws and weaknesses in the HOA model. See, Time to Rehab the Aging Condominium…