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NACA demands help with mortgage modifications on Capitol Hill

NACA members from the state of Maryland went to Senator Barbara Mikulski's office at the Capitol Hill on July 27, 2010, to advocate for ...

Glenwood Chamber economic forum tackles housing affordability problems, solutions

"So, yeah, you may be paying a lot less for that house in Parachute or Battlement Mesa, but how much are you then spending on transportation?"

The H+T index factors that cost into the equation. The magic number: 45 percent.

Anything above that amount and, again, that individual or family is cost burdened, Anderson said.

And, according to a new draft housing needs assessment for the tri-county region including Garfield, Pitkin and Eagle counties, that cost burden adds up to about $54 million per year — money that's not being saved or spent in the community on other things, Anderson pointed out.

The other cost to Glenwood Springs from a business standpoint is the ongoing difficulty for employers to hire and retain employees, he said.

City leaders call for more flexibility in Denver's troubled affordable home-buying program

The city changed the rules on buyers and sellers just hours before closing in some cases.

"It's now sort of kicking people out of being eligible that might have otherwise been eligible," Councilwoman At-large Debbie Ortega said Wednesday. She was in attendance of a committee meeting about a recent city audit which identified several problems in Denver's affordable housing programs.

Ortega questioned if city leaders, who are trying to fix past problems, are instead creating new problems and thus hampering the city's limited affordable housing stock.

"Yeah, affordable housing stock is a precious resource and we take it very seriously to protect and preserve that," Chief Housing Officer Britta Fisher told the committee of recent changes on the whole. "At the same time, we've wanted to work with people who feel they were caught unaware."

Among those people are Gary Gibson, who Contact7 Investigates profiled in the past few weeks.

"Disaster," he said of the process he's enduring. He benefited in buying an affordable townhome in Stapleton in 2016, but is unable to sell it in 2019. Prospective buyers are struggling to meet income requirements and a newly-enforced housing cost debt-to-income ratio. He's had roughly 100 showings since the townhome went on the market in October -- the most affordable townhome of its size in Denver.

Is there a point to having a barely affordable mortgage...?

and living in a nice house in a good area, but you know that if anything were to go wrong you would not make the payments. Any solutions? The cost of houses is ridiculous these days, it's hard enough getting a house in any area let alone a nice one.


Hi,
I agree with your answers, but I just went mad last year, and rented out my house to totally pay off the mortgage, and stayed on my small boat in the meantime.
Result ?