Delinquent HOA fees lead to Bankruptcy? How does this affect me

[mxzx440]

I recently had an offer accepted on a condo in a three story building in pontiac. The complex has 114 units total. The bank just denied my loan due to the amount of delinquent HOA fees. I am wondering if I should go forward with another bank that will approve the mortgage? Also, what happens to the owner of the condo if the association does go bankrupt? The condo is responsible for grounds maintenance, amenities, and the building itself. Utilities are owners responsibility. Are there a bunch of fees the association will throw onto me as an owner to survive the delinquency/debt?