Program helps low-income families build homes

From the Seattle Times:

Five new homes in a development called The Crest at Copper Station complete a three-year, 35-house Team HomeBuilding project. The sweat-equity program for low- and moderate-income families is one of many affordable housing options offered by Housing Hope, a nonprofit agency serving people in Snohomish and Island counties.

I really like this program. Like Habitat For Humanity, Housing Hope works with a group of people in need of affordable housing to build new homes. In this development, all the families in the new development help build each others homes. This leads to a scence of ownership but also a scene of community.

Until Next Time,
Mike
Affordable Housing

Finding Neutral Information

When someone is facing a personal hardship, particularly one as touchy as when there was financial problems. Finding neutral advice can be hard. This blog covers news related to bankruptcy and Affordable housing, but our goal has been to put personal finance into a context that people can understand. We are bloggers, not lawyers.

Finding a great bankruptcy lawyer or credit counselor may part of the equation. But before you get to that point, it may be important to education yourself. Avvo.com is a fantastic resource for learning about Bankruptcy.

When speaking to a lawyer or credit counselor it is always best to arm yourself with as much information as possible.

Until Next Time,
Mike
Chicago Bankruptcy

Houston leading the way in Green Affordable Housing

From Houston Public Radio:

Guy Rankin is the CEO and Executive Director of the Harris County Housing Authority. The latest project, which opened earlier this month with 88 units, is the first affordable housing development in the country that's LEED Platinum Certified. The complex has hundreds of energy efficient features, from solar panels on five buildings and rain water harvesting to better insulation.

This is an amazing development in Affordable Housing.

Until Next Time,
M Lewis
Affordable Housing

Personal Bankruptcy Rate Falls

Resent data released by the American Bankruptcy Institute, personal bankruptcy files from 18% year-over-year, "Personal bankruptcy filings in July 2011 totaled 113,470, down from 137,698 personal bankruptcy cases in July 2010, a decline of 18 percent."

At first glance, this might look like a positive. More Americans are able to pay off their debts without creating undo burden on their way of life. However, with unemployment still at 9% and the jobless rate at 16%, it is more likely that less people are filing for bankruptcy because they cannot afford to administrative and legal fees. the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act made it more difficult and more expensive to file for Bankruptcy protection.

The drop in filings could be that the people in dire financial position cannot afford the file.



Until Next Time
Mike
Chicago Bankruptcy

Delaware studies little change

This week, an independent consulting working on behalf of Delaware released a study on the state of affordable housing in state. Nothing has really changed.

• Racial minorities have a tougher time becoming homeowners and are disproportionately denied mortgages loans.
• Elected officials, staff, landlords and the public need more training on fair housing.
• Certain fees discourage development of new affordable housing projects.

The study argues that while there has been much progress on increasing the affordable housing stock in urban areas, the state needs to do a better job in helping increasing access to fair housing in rural and suburban areas of the state.

<iframe width="425" height="349" src="http://www.youtube.com/embed/wjAoYYF4DdY" frameborder="0" allowfullscreen></iframe>

Until Next Time
M Lewis
Affordable Housing Development

Problems with Affordable Development in St. Paul

Recently, a Ramsey County District judge has told the St. Paul City Council to reconsider two zoning variances granted to an affordable-housing project proposed for Highland Park:

The building, largely financed by the sale of state and local tax credits through a federally backed housing program, would house 160 to 180 residents, with 10 units set aside for homeless individuals or families. About half of the building would be for the very poor - those at or below 30 percent of area median income - and the other half would be "workforce housing" for low- to moderate-income families.

The development is being blocked by a group of local neighbors. They are argue that existing homes in the area, either in foreclosure or abandonment, could be converted to affordable housing. Other plaintiff in the suite believes adding high density housing to the area would cause a breakdown of the existing infrastructure. The judge, in his option, stated that the site could house a small apartment complex, thus the zoning issues at the core of the suite where a non-issue.

I believe this case highlights the importants of state wide laws, like Massachusetts's Chapter 40B program. Using state-wide power of grant zoning variances gives weight to projects such as this one. To a large extent, it takes local politics and prestigious out of the equation.

Until Next Time,
M Lewis
Affordable Housing Development

What Is Affordable Housing?

What Is Affordable Housing? from the Center for Urban Pedagogy on Vimeo.

A great video explaining the technical definitions of affordable housing.

Until Next Time,
Mike
Affordable Housing Developement