affordable cohousing, not "gated"
From: Thomas Lofft (
Date: Fri, 22 Jan 2010 08:14:52 -0800 (PST)
The optimum use of assets for seniors is very important.


We often see that continuing care communities require major capital investments 
as part of a "buy-in" for a residential unit, as do some senior communities, 
even without a continuing care regime.


One strategy to consider, for the senior who desires to have ownership of a 
permanent home and liquid assets, is to buy/build their home in a cohousing 
community and then obtain a reverse mortgage to free up their equity value as 


There are several constraints for reverse mortgages, and I am not in the 
mortgage business, but they do provide an option to have your home and use the 
asset value as cash for other expenses, whether they be medical, entertainment, 
travel, home improvement or additions or whatever..  


For others that have no assets at all, then the challenge is to find a social 
welfare program that will support the purchase or construction of a new home, 
since the basic cost of construction of any home cannot reasonably be a 
give-away by a privately financed cohousing community.


Date: Fri, 22 Jan 2010 01:04:00 -0500
From: Jan DeKenis <jandk [at]>
Subject: Re: [C-L]_ affordable cohousing, not "gated"
To: Cohousing-L <cohousing-l [at]>
Message-ID: <a06230901c77eefeb6c36@[]>
Content-Type: text/plain; charset="us-ascii" ; format="flowed"
I would add that older adults also can be excluded. It's hard to get 
a mortgage if one's retired and can't tie up a good portion of one' 
assets by owning outright.



Tom Lofft

Liberty Village, MD

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