Homeowners' Association (HOA)

Homeowners' Association (HOA)

A homeowners' association (HOA), is typically formed to manage shared expenses such as landscaping and other maintenance costs for a planned subdivision or other organized community. Condominium HOAs take on more responsibilities including, for example, the maintenance of driveways, shared structures, and roofs. Get more information on how HOAs may appear on your mortgage statement (cfpb.gov/askcfp b/1945).