For instance, an Ourboro co-owner realizes they have a leak in their roof, but they don’t have the funds available to repair or replace it right away. Allowing the roof to continue to leak will lead to damage to the home, more expensive repairs, and a lower property value.
The co-owner may choose to withdraw money from the Homeowner’s Advance Fund, allowing them to make the repair immediately. Then, they can repay the loan when they have the ability to, or allow it to accrue interest until they decide to sell the home and repay it with their portion of sale proceeds instead.