Cohousing-L Mailing List: RE: Your bank loan

[Tom Lent (tlent]

Rob Sandelin writes:

> The next time somebody asks me why is cohousing so expensive I am going 
> to just forward them your mail. thanks for the details. Sheesh, I am 
> not sure I could come up $25K cash, sort of puts a limit on who can 
> play I guess.  
> 

Not all in our group have come up with the cash immediately. Many did
long payment plans to get it together during our long development
process. Lots of pain by a bunch of folks stretching to afford this
stuff (cashing IRAs, leaning on friends and family for under the
table loans, etc) - definitely deeply exacerbated by our inability
to provide low down payment financing. And now as we get close to the
permanent financing end of things, the time for payment plans is
ending and the remaining new members will have to be able to come up
with the cash pretty quickly.

Tom Lent
Berkeley Cohousing

> 
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Tom Lent * 2220-A Sacramento St * Berkeley, CA 94702-1907
           email: tlent [at] igc.apc.org * phone: 510/845-5243
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