If you're looking to refinance your mortgage, you may find it difficult to do so if there are delinquencies in your association.
Many banks will not approve a mortgage if the number of units more than 30 days delinquent on assessment payments exceeds a particular percentage. If the threshold is 15%, that means that in an 8-unit building, more than one delinquent owner could prevent your refinance.
HausFS recommends that boards take prompt action to address delinquencies, to protect the interests of the association and every unit owner.