|Re: Affordable (Co)housing||<– Date –> <– Thread –>|
|From: Sharon Villines (sharonsharonvillines.com)|
|Date: Tue, 20 Apr 2021 05:52:42 -0700 (PDT)|
> On Apr 20, 2021, at 7:43 AM, Diana Carroll <dianaecarroll [at] gmail.com> > wrote: > > “ How do they build equity? If they stay for many years do they eventually > own the unit?” > > Yes. It’s regular ownership. They have a regular mortgage from a regular > bank. Every dollar they pay towards the principal builds their equity. If > they get a 30 year mortgage, they will own the house outright in 30 years. > > The only thing different about their ownership from a standard unit is a > restriction on who they can sell to and how much the can sell for. (And the > former is negotiable—if they are unable to find a qualified buyer within a > certain time frame, they can sell to anyone.) So it is similar to a rent to buy program with a restriction on buyers and selling price. Do you know how they set the selling price? Sharon ---- Sharon Villines, Washington DC "A committee is a cul-de-sac down which ideas are lured and then quietly strangled." Sir Barnett Cocks
- Re: Affordable (Co)housing, (continued)
- Re: Affordable (Co)housing Sharon Villines, April 20 2021
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