Community land trust/ leasehold/ mortgage | <– Date –> <– Thread –> |
From: Peter Scott (psak.planet.gen.nz) | |
Date: Wed, 9 May 2001 19:43:01 -0600 (MDT) |
A recent thread touched on CLTs. I looked up the topic on the archives (land?trust clt) and it seems CLTs have worked for preserving natural areas quite well and for the odd community with a shared bulk housing mortgage. Are there any funding innovations occuring anywhere where banks will fund *individual* house loans on leased land? In NZ the government has an obscure loan facility for Maori housing on collectively owned land. They require (dont laugh) that the house be portable!, in the event that the borrower defaults. Lateral social collateral is also starting to be talked about here, especially by ethical investment outfits, whereby peers guarantee loans, but usually only to small amounts. -- Regards, Peter Scott Auckland New Zealand Phone +64 9 832 4004 / 025 6240154 * Earthsong Eco-Neighbourhood <http://www.ecohousing.pl.net/> * EcoVillage Association NZ <http://www.converge.org.nz/evcnz/> -------------------- Subject: Re: community land trust Author: Michael John Omogrosso (omo [at] darkwing.uoregon.edu) Date: 8 Apr 1996 09:41:41 -0500 ... > The community land trust seems such a good fit to our sustainability and > housing goals. By removing the land from the speculative market place, a > major market value appreciation piece is controlled. Resulting > impedments to increased taxes should be realized. > > Ownership of structures remains the same with a 99 year renewable and > inheritable land lease except that if resale occurs, the resale is > contingent on respect for the land trust covenant and only purchase cost > plus improvements, basically, used to calculate the selling price. It > keeps owning a home affordable for a much broader range of society. ------------------ Subject: RE: land trust Author: Rob Sandelin (Floriferous [at] classic.msn.com) Date: 26 Jun 1998 09:15:16 -0500 Land trusts are a great way to keep land off the market rate real estate appreciation cycle.The downside is that financing may be much harder or impossible under such limitations. Banks really don't like to finance homes they can't easily sell if they foreclose, and since you would not have clear title to the land under a land trust, only a lease, it would be that much more less appealing to a bank. However, some banks do have special loan programs targetted for low income families, some states even require large banks to invest some small percentage in these programs. Check with your local bankers before committed to such a path. _______________________________________________ Cohousing-L mailing list Cohousing-L [at] cohousing.org Unsubscribe and other info: http://www.communityforum.net/mailman/listinfo/cohousing-l
- (no other messages in thread)
Results generated by Tiger Technologies Web hosting using MHonArc.