Association may amend bylaws to provide that only owners may serve on board (FL)

Written by Florida Condotel Mortrgage on September 26, 2020. Posted in Florida Condotel Mortgage.

Q: Our governing documents say that anyone can be on the board — we would like to amend that, but the management company says it would cost thousands of dollars. Are they right? Read the Q&A………………………………

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Rates posted assumes 25% down payment, and an ARM rate first mortgage on a Florida condotel, primary residence. Additional required amounts such as taxes, insurance, home owner association dues, assessments, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. **Posted APR is based on Mortgage Assumptions.

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