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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 ...

Rockport Mortgage Announces $26M Multifamily Affordable Financing in Connecticut

Yale Acres is a 162 unit affordable housing community originally constructed in 1952 by the Meriden Housing Authority (“MHA”). The borrower, Yale Acres LLC of Meriden, CT, is an affiliate of Maynard Road Corporation, a non-profit founded by the MHA to develop and maintain affordable housing through public-private partnerships. An affiliate of Meriden-based Carabetta Companies will act as the general contractor on the redevelopment.

Proceeds of the approximately $26 million loan, in connection with proceeds received from the sale of 4% low income housing tax credits and a $5.7 million dollar loan from the State of Connecticut Department of Housing, will be used to rehabilitate 155 of the existing units as well as fund construction of an additional 7 units of affordable housing.

The planned redevelopment of Yale Acres will be completed over a period of 2 years at a total cost of approximately $53 million. The substantial rehabilitation will include installations of a closed-loop geothermal heating and cooling system as well as solar photovoltaic electricity and solar thermal hot water systems.

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.

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 ?

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