Re: Affordable Cohousing
From: Catya Belfer-Shevett (
Date: Mon, 5 May 2008 15:13:38 -0700 (PDT)
Brian Bartholomew wrote, On 5/5/2008 6:01 PM:
What generally happens?  Is the lottery for these units really a
prequalification and financial counciling step, to help applicants
thread this needle and qualify for these units?

The lottery is chosen from people who prequalify - I'm not sure how much the lottery agent is counseling people / helping them qualify, etc. You could ask them :)

I was talking about this at lunch with somebody, and we were wondering
how long a household had to meet the qualifying criteria.  Maybe a
year or two, so they can show a tax return?  We imagined a two-earner
household qualifying under one income, with the cooperation of an
employer to adjust their income to be just right, and then after
purchase the second person takes a job again to reduce the precarious
debt-to-income ratio.

I can find out the details on it (or ask SEB, I believe Bob Engler (the E) is presenting at the conference), but they look both backwards and ask you to forecast forwards.

        - catya

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