What is the name of your state? Alaska (Anchorage)
Some of the owners in our HOA are talking about changing certain CC&R's (no, really). My question is this: I've heard that a change to CC&R's requires the consent / approval of not only the percentage of homeowners specified in the CC&R's but *also* the mortgage lenders who have a financial interest in every property within the HOA.
Is this correct? Is it a state law, federal law? Any online resource that I could review and cite for my neighbors would be greatly appreciated.
Some of the owners in our HOA are talking about changing certain CC&R's (no, really). My question is this: I've heard that a change to CC&R's requires the consent / approval of not only the percentage of homeowners specified in the CC&R's but *also* the mortgage lenders who have a financial interest in every property within the HOA.
Is this correct? Is it a state law, federal law? Any online resource that I could review and cite for my neighbors would be greatly appreciated.