El Cajon 1st time homeowner mortgage

[patientrenter]

pabloesqobar, you didn’t ask for a moral lesson, just an assessment of how likely it was that your friend could successfully defraud the city. But seeing this sure doesn’t make me want to vote for any new low-income housing assistance from any level of government, i.e. from my pocket.

Patient renter in OC

[PCinSD]

Patient renter:

I didn’t ask for a lesson, moral or otherwise. Nor did I ask how my friend could defraud the city. If you saw my post as anything to the contrary, please explain. I was hoping to luck out and get some advice from someone that has experience with this particular program in El Cajon. Specifically, how it works when someone no longer qualifies. What happens in reality/practically? This question was posed only because his contract is in Moscow and not in front of me right now. Regarding your future voting habits as they pertain to low-income housing, I might tend to agree with you despite this particular issue.

pabloesqobar

pabloesqobar, you didn’t ask for a moral lesson, just an assessment of how likely it was that your friend could successfully defraud the city. But seeing this sure doesn’t make me want to vote for any new low-income housing assistance from any level of government, i.e. from my pocket.

Patient renter in OC

pabloesqobar

[PCinSD]

Patient renter:

I didn’t ask for a lesson, moral or otherwise. Nor did I ask how my friend could defraud the city. If you saw my post as anything to the contrary, please explain. I was hoping to luck out and get some advice from someone that has experience with this particular program in El Cajon. Specifically, how it works when someone no longer qualifies. What happens in reality/practically? This question was posed only because his contract is in Moscow and not in front of me right now. Regarding your future voting habits as they pertain to low-income housing, I might tend to agree with you despite this particular issue.

pabloesqobar

pabloesqobar, you didn’t ask for a moral lesson, just an assessment of how likely it was that your friend could successfully defraud the city. But seeing this sure doesn’t make me want to vote for any new low-income housing assistance from any level of government, i.e. from my pocket.

Patient renter in OC

pabloesqobar

[PCinSD]

Patient renter:

I didn’t ask for a lesson, moral or otherwise. Nor did I ask how my friend could defraud the city. If you saw my post as anything to the contrary, please explain. I was hoping to luck out and get some advice from someone that has experience with this particular program in El Cajon. Specifically, how it works when someone no longer qualifies. What happens in reality/practically? This question was posed only because his contract is in Moscow and not in front of me right now. Regarding your future voting habits as they pertain to low-income housing, I might tend to agree with you despite this particular issue.

pabloesqobar

pabloesqobar, you didn’t ask for a moral lesson, just an assessment of how likely it was that your friend could successfully defraud the city. But seeing this sure doesn’t make me want to vote for any new low-income housing assistance from any level of government, i.e. from my pocket.

Patient renter in OC

pabloesqobar

[PCinSD]

Patient renter:

I didn’t ask for a lesson, moral or otherwise. Nor did I ask how my friend could defraud the city. If you saw my post as anything to the contrary, please explain. I was hoping to luck out and get some advice from someone that has experience with this particular program in El Cajon. Specifically, how it works when someone no longer qualifies. What happens in reality/practically? This question was posed only because his contract is in Moscow and not in front of me right now. Regarding your future voting habits as they pertain to low-income housing, I might tend to agree with you despite this particular issue.

pabloesqobar

pabloesqobar, you didn’t ask for a moral lesson, just an assessment of how likely it was that your friend could successfully defraud the city. But seeing this sure doesn’t make me want to vote for any new low-income housing assistance from any level of government, i.e. from my pocket.

Patient renter in OC

pabloesqobar

[PCinSD]

Patient renter:

I didn’t ask for a lesson, moral or otherwise. Nor did I ask how my friend could defraud the city. If you saw my post as anything to the contrary, please explain. I was hoping to luck out and get some advice from someone that has experience with this particular program in El Cajon. Specifically, how it works when someone no longer qualifies. What happens in reality/practically? This question was posed only because his contract is in Moscow and not in front of me right now. Regarding your future voting habits as they pertain to low-income housing, I might tend to agree with you despite this particular issue.

pabloesqobar

pabloesqobar, you didn’t ask for a moral lesson, just an assessment of how likely it was that your friend could successfully defraud the city. But seeing this sure doesn’t make me want to vote for any new low-income housing assistance from any level of government, i.e. from my pocket.

Patient renter in OC

pabloesqobar

[Raybyrnes]

pabloesqobar

I looked at these program when I was a grad student and thought it wass very opportunistic because my income had dipped significantly to the point that I could qualify during that period of time that I was in school but would rise dramitically once I was out of school.

I believe the program is tied to your income only at the time of qualification. If you become a millionaire the day after you move in because you hit lotto, it has no bearing on you eligibility.

The downside to this program is you need to live in the home for 40 years before you can outright own it.

Secondly, it stipulates that you can not own the property as a rental.

Third you are not eligible to sell the property at a market rate if selling before the end of that 40 year period.

Lastly you need to find a qualified applicant who does not have too little in assets adn income or too much.

Mulberry in the Bressi ranch area was a similiar income conmtingent project with subordinate financing from the city of Carlsbad.

Not a bad deal for a family that is getting started.

[Raybyrnes]

pabloesqobar

I looked at these program when I was a grad student and thought it wass very opportunistic because my income had dipped significantly to the point that I could qualify during that period of time that I was in school but would rise dramitically once I was out of school.

I believe the program is tied to your income only at the time of qualification. If you become a millionaire the day after you move in because you hit lotto, it has no bearing on you eligibility.

The downside to this program is you need to live in the home for 40 years before you can outright own it.

Secondly, it stipulates that you can not own the property as a rental.

Third you are not eligible to sell the property at a market rate if selling before the end of that 40 year period.

Lastly you need to find a qualified applicant who does not have too little in assets adn income or too much.

Mulberry in the Bressi ranch area was a similiar income conmtingent project with subordinate financing from the city of Carlsbad.

Not a bad deal for a family that is getting started.

[Raybyrnes]

pabloesqobar

I looked at these program when I was a grad student and thought it wass very opportunistic because my income had dipped significantly to the point that I could qualify during that period of time that I was in school but would rise dramitically once I was out of school.

I believe the program is tied to your income only at the time of qualification. If you become a millionaire the day after you move in because you hit lotto, it has no bearing on you eligibility.

The downside to this program is you need to live in the home for 40 years before you can outright own it.

Secondly, it stipulates that you can not own the property as a rental.

Third you are not eligible to sell the property at a market rate if selling before the end of that 40 year period.

Lastly you need to find a qualified applicant who does not have too little in assets adn income or too much.

Mulberry in the Bressi ranch area was a similiar income conmtingent project with subordinate financing from the city of Carlsbad.

Not a bad deal for a family that is getting started.

[Raybyrnes]

pabloesqobar

I looked at these program when I was a grad student and thought it wass very opportunistic because my income had dipped significantly to the point that I could qualify during that period of time that I was in school but would rise dramitically once I was out of school.

I believe the program is tied to your income only at the time of qualification. If you become a millionaire the day after you move in because you hit lotto, it has no bearing on you eligibility.

The downside to this program is you need to live in the home for 40 years before you can outright own it.

Secondly, it stipulates that you can not own the property as a rental.

Third you are not eligible to sell the property at a market rate if selling before the end of that 40 year period.

Lastly you need to find a qualified applicant who does not have too little in assets adn income or too much.

Mulberry in the Bressi ranch area was a similiar income conmtingent project with subordinate financing from the city of Carlsbad.

Not a bad deal for a family that is getting started.

[Raybyrnes]

pabloesqobar

I looked at these program when I was a grad student and thought it wass very opportunistic because my income had dipped significantly to the point that I could qualify during that period of time that I was in school but would rise dramitically once I was out of school.

I believe the program is tied to your income only at the time of qualification. If you become a millionaire the day after you move in because you hit lotto, it has no bearing on you eligibility.

The downside to this program is you need to live in the home for 40 years before you can outright own it.

Secondly, it stipulates that you can not own the property as a rental.

Third you are not eligible to sell the property at a market rate if selling before the end of that 40 year period.

Lastly you need to find a qualified applicant who does not have too little in assets adn income or too much.

Mulberry in the Bressi ranch area was a similiar income conmtingent project with subordinate financing from the city of Carlsbad.

Not a bad deal for a family that is getting started.

[PCinSD]

Thanks for your input Raybyrnes. By way of update:

He went to the City yesterday and explained his situation. They were not interested in disqualifying him from the program or doing anything to change the “status quo”. They are just going to use his base salary, and average that with the previous year to make sure he still qualifies on paper. Go figure.

pabloesqobar

[PCinSD]

Thanks for your input Raybyrnes. By way of update:

He went to the City yesterday and explained his situation. They were not interested in disqualifying him from the program or doing anything to change the “status quo”. They are just going to use his base salary, and average that with the previous year to make sure he still qualifies on paper. Go figure.

pabloesqobar

[PCinSD]

Thanks for your input Raybyrnes. By way of update:

He went to the City yesterday and explained his situation. They were not interested in disqualifying him from the program or doing anything to change the “status quo”. They are just going to use his base salary, and average that with the previous year to make sure he still qualifies on paper. Go figure.

pabloesqobar

[PCinSD]

Thanks for your input Raybyrnes. By way of update:

He went to the City yesterday and explained his situation. They were not interested in disqualifying him from the program or doing anything to change the “status quo”. They are just going to use his base salary, and average that with the previous year to make sure he still qualifies on paper. Go figure.

pabloesqobar

[Author]

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