Some states have specific legislation that requires
homeowner associations to have and follow
a 30 year repair and replacement plan
known as a "reserve study”.

Being a homeowner is one of the biggest dreams for the American people. Due to record numbers of homeownership and cheap mortgage rates, individuals who did not own a home previously are now looking for mortgages for financing their ambitions. On certain occasions, the dream of homeownership is associated
with a cost that exceeds the mortgage. 

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