A home owners association is the lowest form of government. In our little group of condos, I accepted the task of president. A lofty sounding office with no pay and occasional grief and I should add a job, position, office and title one cannot get rid of without death or at a minimum sale of one’s own real estate. I wish to do neither.

Recently one of our residents began the process of making application for a home improvement loan from a local bank. The bank loan office is plowing through its own internal procedure for finding out if a condominium is of a certain value and more importantly if the loan goes south what other obligations it has after it takes the property in foreclosure.

Banks and their loan staff are masters at covering their asses. Two times in the form sent to me as President and chief executive officer of the Crestpointe Condominium Unit Homeowners Association Inc. (lofty), they asked the question – Is there a special assessment in place or will there be a special assessment coming soon? – twice.

I wonder why that is important to the loan? If I had a bank officer nearby, I would ask.

I pressed on in my head about other questions; the previous owners did an extensive rehab before selling, what needs fixing? And is there a mortgage? How much equity remains?

Debbie and I discuss often the rabbit holes I fall into as I think about nuances of the various properties we have looked at the past few weeks. She likes imagining a different house and refers to herself as a hobby realtor. (One day we may find a better living situation than the one we currently have but that is off in the future somewhere, hiding where the universe put it.) Those discussions sent me to the county auditor’s website which tells a story about previous ownership. Sometimes it leads me to imagine previous life histories, although the stories can be fictional.

There is no mortgage. The resident paid cash. The previous ownership page does tell a story. I merely have not sussed out the time line completely.

I am still wondering about the resident’s need for a loan to repair or rehab what was done previous to his purchase. The houses Debbie and I look at are often recently rehabbed perhaps to justify a bigger selling price. How much does a $40 can of paint add to the final selling price.

A question for another day.

Carpe Diem.