"dentists"? alt.
From: Fleck (foam4uworldnet.att.net)
Date: Fri, 31 Dec 2004 13:02:07 -0800 (PST)
If folks are interested in another way to build community at the lower
income level check out:
This isn't cohousing and it's public/private effort but it serves people
with very limited time and income and creates community in a similar way -
just not at the front end.

Jackson Place Cohousing (Seattle) has a Homesight condo development just to
the east of us. Owners started moving in in Sept. '04 and there are now 12
of 34 units occupied. (Fabulous views of downtown Seattle!) We're planning a
welcoming dinner for these folks soon. We'll be sharing a P-patch (community
garden) with them and the rest of the neighborhood as soon as we get the
planning done.

The original idea behind Homesight is that working families deserve to own
their own home. But with high rents, family expenses, and low wages, there's
no way to come up with a large chunk of cash for a down payment.
(I think the down payment is the crux of the matter generally.)

Homesight requires that applicants take their series of classes about home
ownership and they provide the down payment. Basically, the owner carries a
31 (thirty-one) year mortgage. After the mortgage insurance requirement
stops (=enough equity) that same amount starts flowing back to Homesight.
The 31st year of the mortgage all goes to Homesight.

There are income caps for eligibility but if there are folks out there who
are interested, I'd encourage you to contact them.

Happy New Year

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