Cohousing-L Mailing List: RE: group formation and affordability

[Willie Schreurs (willie]

On Thu, 8 Jun 1995, Rob Sandelin wrote:

> . . .  then it would be well to talk with some local mortgage 
> bankers, get an understanding of what their mortgage criteria are, then 
> apply those in-house to your membership in some sort of private way, to 
> evaluate individuals real ability to qualify for the mortgage on a 
> unit. 

        We kinda did (are doing) that at Greyrock Commons by making one 
of the requirements for "full" membership a qualifying letter from a bank 
or mortgage lender.  That allows for financial privacy for the new member 
while letting the community (and the new member; it's a useful reality 
check) know that this person or family can afford it.


  /\                     Willie Schreurs                      /\
 //\\  <willie [at] FortNet.org> or <71500.2232 [at] compuserve.com>   //\\
///\\\   Future Home: Greyrock Commons, Fort Collins, CO    ///\\\