|Re: residents with financial problems||<– Date –> <– Thread –>|
|From: David G Adams (dadamsworld.std.com)|
|Date: Fri, 26 Aug 94 09:50 CDT|
> Some in the group say, "We can't go making exceptions for him, > because then we'll need to make exceptions for others, and it could > end up costing the others a lot of money." > > Others believe "We're a community and we need to look out for each other. > > In this case, he'd only like us to hold a spot for a period of time, not t > provide cash. FUture dilemma may require $$$. > > Any Ideas out there in cyberworld? We have members who are "house rich" and cash poor, and therefore may have trouble coming up with money for downpayments / fair share payments. We also have members who have inheritances or nest eggs, but probably not enough income to qualify for a mortgage. Some members are dreaming of 4 bedroom homes and not really thinking about what they will _really_ be able to afford. We are taking a few steps to help control these problems. * Our membership document has provisions for a "special status" full member. The full membership can agree to not require certain obligations. These include "qualify for mortgage" and "serve on committees" (some full members may live out of town currently). * We have appointed a "financial counselor" to be the holder of the financial secrets. He is "prequalifying" members to help determine how much they can afford, and trying to work out plans of attack. * We are actively persuing an affordable houing program for 6 - 10 units. * We are wishing for the capital to build some rental units into the plan. Dave Adams Cornerstone ______________________________________________ |\/\/\/| David G. Adams |____ | U4 Consulting OO ) | Arlington, MA ( | dadams [at] world.std.com | | CompuServe: 72630,1374 ______________________________________________
Results generated by Tiger Technologies Web hosting using MHonArc.