Need a win-win-win solution
From: Leti Mudlo (leti_mudloyahoo.com)
Date: Fri, 6 Oct 2006 08:04:17 -0700 (PDT)
Dear Co-Housing folks,
   
  Two and a half years ago I moved out of a co-housing community to temporarily 
gain more space for me and my three teenage children.  Co-housing was a 
blessing for me as a single parent because my children were safe and thrived in 
a very fun and nurturing environment.  I also never felt lonely. 
   
   As the kids grew up and starting driving, the parking limitations became an 
issue, not only for them, but all their wonderful friends.  I found a nice 
house nearby for a good price and plenty of space for everyone, and since the 
kids would all be graduated from high school in three years, it made perfect 
sense to make the change for a short while.
   
  A family of five in our community lived in a small three bedroom, 2-level 
condo just across the pedway.  They desperately needed more space so they 
offered to rent my 4 bedroom, 3-bath, 3-level townhouse.  Their intention was 
also to purchase my townhouse after the first year.  They were also able to 
find a family of two to rent their home.  So, all three families made the move 
at the same time.  
   
  The situation today, two and a half years later, is that due to difficult 
financial circumstances, the family of 5 cannot afford to purchase the 
townhouse.  On the other hand they have ALWAYS been able to pay their rent on 
time, and they keep their home immaculate.  Not only are they my tenants, they 
are my good friends.  The interest rate on the mortgage will begin to increase 
annually beginning on January 1st, and each year thereafter.  Interest rates 
are also higher than standard residential rates; therefore, refinancing the 
loan would result in a much higher monthly payment.  Their lease ends on June 
30, 2007.  
   
  I would say that one win-win-win solution would include someone who has a 
passion for co-housing and is interested in being an individual or partial 
investor in this property for the long-term.  Co-housing is about helping 
others, sharing in the work and problem solving together.  The timing of these 
rate changes is sooner than I expected, and I?m not ready to move back to the 
community until I can help my children transition into college or their own 
homes ? which will take about another two years.  Another solution would be to 
find someone who would like to purchase the property and move into the place on 
July 1, 2006.  Perhaps there are other solutions out there, thus the reason I?m 
asking for your help.
   
  What are your thoughts?
   
  If you have an opinion, a suggestion, or an interest in this situation, 
please respond to me directly at leti_mudlo [at] yahoo.com or you may call me 
anytime at 303-981-5811. 
   
  Thank you so much,
  Leti in Colorado

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