|Re: Affordable Cohousing||<– Date –> <– Thread –>|
|From: Catya Belfer-Shevett (catyahomeport.org)|
|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.
- Re: Affordable Cohousing, (continued)
- Re: Affordable cohousing Sarah Florreich, May 3 2008
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