Cohousing-L Mailing List: Re: Affordable Cohousing

[Catya Belfer-Shevett (catya]

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