Re: Trading Systems | <– Date –> <– Thread –> |
From: Peg Blum (pegbcambridgecohousing.org) | |
Date: Fri, 5 Apr 2002 10:51:02 -0700 (MST) |
Ann Zabaldo wrote: > Rather than sweat equity wouldn't it be better to find a >source of funding for their unit -- do you have any >institutions that provide funding for folks needing >affordable or low income housing? Sometimes the >group is willing to create a pool of money that can > support others in the group that need it. But I've rarely >come across folks w/ enough "spare" cash who can do >this. It does happen tho'. > At Cambridge Cohousing in Cambridge, MA, we had several households (out of 41) who could not come up with our required pre-construction contribution of 30% of the projected purchase price. We had a Finance Committee which reviewed each household's circumstances and made recommendations for decreasing the initial contribution. We were able to carry those folks temporarily until they got their mortgages at 5 (for first time home owners), 10 or 20% downpayment, at which time they would pay the purchase price to the LLP. Our units became available for move-in over a period of 6 months, so as folks got their mortgages, the LLP(Limited Liability Partnership) was able to pay off the construction loan. One household participated in the Cambridge Condo Initiative, a program which assists people needing help with the downpayment on a mortgage, in exchange for limited equity on re-sale. (My knowledge of this is sketchy.) Peg Blum pegb [at] cambridgecohousing.org www.cambridgecohousing.org _______________________________________________ Cohousing-L mailing list Cohousing-L [at] cohousing.org Unsubscribe and other info: http://www.communityforum.net/mailman/listinfo/cohousing-l
-
Trading Systems Andrew Watkins, April 4 2002
-
Re: Trading Systems Ann Zabaldo, April 5 2002
-
Re: Trading Systems Andrew Watkins, April 5 2002
- RE: Affordable housing models Rob Sandelin, April 7 2002
- Re: Trading Systems Peg Blum, April 5 2002
-
Re: Trading Systems Andrew Watkins, April 5 2002
-
Re: Trading Systems Ann Zabaldo, April 5 2002
-
Trading Systems George Marx, April 5 2002
-
Re: Trading Systems Howard Landman, April 5 2002
- Re: [C-L] Affordable (Was Trading Systems) Sharon Villines, April 6 2002
- More affordable housing ideas Rob Sandelin, April 7 2002
-
Re: Trading Systems Howard Landman, April 5 2002
Results generated by Tiger Technologies Web hosting using MHonArc.