An organization of homeowners residing within a particular area whose principalThe amount of money borrowed or the amount of the loan that has not yet been repaid to the lender. This does not include the interest you will pay to borrow that money. The principal balance (sometimes called the outstanding or unpaid principal balance) is the amount owed on the loan minus the amount you’ve repaid.... purpose is to ensure the provision and maintenance of community facilities and services for the common benefit of the residents.
