Re: Median income and HUD | <– Date –> <– Thread –> |
From: Kate Nichols (knicholsbellcoho.com) | |
Date: Fri, 4 Apr 2003 07:43:01 -0700 (MST) |
I wrote and received a grant for $125,000 for down payment assistance for five families. It was set up as a revolving loan fund, so after 30 years or when you sell your house, the homeowner will have to pay back the money to the fund so another family can use the money. It was from a Washington State agency, the housing trust fund which is federally funded so the HUD numbers applied. The families had to be at 80% of median income or lower. Kate, Bellingham cohousing.
Camela Alexander <camelaha [at] yahoo.com> is the author of the message below. It was posted by Fred the Cohousing-L list manager <fholson [at] cohousing.org> because the message included HTML ; PLEASE do not post HTML, see http://csf.colorado.edu/cohousing/2001/msg01672.html and http://www.harley.com/turn-off-html/ -------------------- FORWARDED MESSAGE FOLLOWS -------------------- I have found updated information on the HUD website for 2003. I actually was surprised at how high the numbers are. In our area (Portland, Or/Vancouver, WA) the median income is approximately $65.8K/year (slightly higher than the nation as a whole). HU D programs vary in the cutoffs for assistance; low income is defined as 80% of this number and very low income is 50%. However, HUD has some programs that will give assistance up to 140%. Further, for a project to get assistance, only a certain percenta ge of participants need to be low or very low income. In these economic times, it's not all that hard for many people to qualify; the difficulty is that sometimes it takes so long to work through the process, that by the time you're ready to take advanta ge of it, you may have ceased to qualify. Does anyone have experience working with (either successfully or unsuccessfully) HUD or other public agencies? Camela Hicks Alexander East Portland Cohousing Group _______________________________________________ Cohousing-L mailing list Cohousing-L [at] cohousing.org Unsubscribe and other info: http://www.cohousing.org/cohousing-L
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Median income and HUD Fred H Olson, April 4 2003
- Re: Median income and HUD Sharon Villines, April 4 2003
- Re: Median income and HUD Kate Nichols, April 4 2003
- Re: Median income and HUD Dahako, April 4 2003
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