we blame the agency involved, not your father. your father works hard and he deserves much better advice than the one that was given.
unfortunately, Community Housing Works, in its attempt to “do good” ended up doing harm to your father and to the general taxpayer. It ended up harming your father by helping him into a home that unfortunately has lost another $100k in value since his purchase back in October. In the meantime, it wasted valuable tax money doing so.
you see, Jr, back in October it was painfully obvious to everyone that knows the housing market (and as an agency that’s involved in housing CHW should have known this) that housing value was going to continue to decline. do you know there’s a 822 sqft house on Fairmont street in the same neighborhood as your father’s home that is now selling for $190,000? how nice would it be for your father to have $115,000 less in mortgage burden to worry about.
