HOA & Condo Finances: Why Lines of Credit Can Be a Trap (and Smarter Alternatives)
As Board Members of Homeowner Associations (HOAs) and Condominiums, you’re constantly navigating financial complexities. A frequent question is whether a revolving line of credit (LOC) is a sound strategy. While seemingly flexible, LOCs can pose risks to your association’s long-term financial health. Let’s explore why and discuss more prudent alternatives. The appeal of a LOC…