Wouldn’t HOAs not being solvent mean they do not have enough money in a fund to cover their expenses, insurance, groundskeeping, pool, etc?
That’s my understanding. I could be wrong. It happens sometimes. I’ve heard of it, especially complexes w/units sitting empty not paying into the fund. Eventually, they get it straight, raise the HOAs for some units and when full occupancy and in the black, reduce the HOAs.
