Nonprofit agency helps renters purchase homes

The thing to remember is if you ever sell that home, not only do you owe your mortgage to the bank but also the balance to NCS. If you use a realtor, might as well tack on another 7% plus if you want to make a little bit of money on the sale. Good luck if you ever try to sell in the future because it is a jungle out there!

barberton border 125k must be nice when houses are selling for 10k

What are the three most important things when buying a home? LOCATION, LOCATION, LOCATION. I would never have bought a home in NORTON.....CROOKED, CROOKED, CROOKED.

Who? qualifies to get these homes?

It has been my experience that this is a racial issue, I tried once to get help from one of these organizations; including the AMHA and could not because all of a certain ethnicity got to the 'top of the list' before me.

These organizations are not made for anyone else but those 'who qualify' for color with a few non-colored people thrown in as tokens!

Take a look around you everyone and you will see!

But I am glad, because As The World Turns; 'they' will have to pay for it after next election!

And then you will hear some squealing.......

Dan The Man wrote:

Who? qualifies to get these homes?
It has been my experience that this is a racial issue, I tried once to get help from one of these organizations; including the AMHA and could not because all of a certain ethnicity got to the 'top of the list' before me.
These organizations are not made for anyone else but those 'who qualify' for color with a few non-colored people thrown in as tokens!
Take a look around you everyone and you will see!
But I am glad, because As The World Turns; 'they' will have to pay for it after next election!
And then you will hear some squealing.......

Actually, anyone can qualify with NCS regardless of age, race, gender. They have especially sweet deals for the first time homebuyer. I know people who have worked with NCS before when buying property and have been quite satisfied with the results. But, do keep in mind that you will owe that money back if you decide to sell it later.

That doesn't make any sense. Why would you have to pay for the house twice? So someone lives in an NCS home for 20 years and totally pays it off and then they go to sell it and they have to give all that money to NCS also? Is that what you're saying? I don't believe that can be correct at all. Once you've paid for it, it's yours.

SDespot wrote:

<quoted text>
Actually, anyone can qualify with NCS regardless of age, race, gender. They have especially sweet deals for the first time homebuyer. I know people who have worked with NCS before when buying property and have been quite satisfied with the results. But, do keep in mind that you will owe that money back if you decide to sell it later.

The loan from NCS is deferred and cancelled after 10 years. If you move before the 10 years are up then you have to pay it back.

Akronarea wrote:

That doesn't make any sense. Why would you have to pay for the house twice? So someone lives in an NCS home for 20 years and totally pays it off and then they go to sell it and they have to give all that money to NCS also? Is that what you're saying? I don't believe that can be correct at all. Once you've paid for it, it's yours.
<quoted text>

That is correct. That is like a second loan, deferred interest, until you sell or pay off the home. Call them up and see for yourself.

rekd wrote:

The loan from NCS is deferred and cancelled after 10 years. If you move before the 10 years are up then you have to pay it back.

That isn't true. I know folks who got money from NCS in 1995 and they had to owe them back what they got from NCS after they sold their property a couple months ago. This is after 13 years.

If that's the truth, then you never really own this home. You are basically just paying rent. I can't believe that this is how it works. It certainly wouldn't be an incentive for home ownership if you know you can never truly own the home, even after years of paying the mortgage. Still makes no sense.

SDespot wrote:

<quoted text>
That isn't true. I know folks who got money from NCS in 1995 and they had to owe them back what they got from NCS after they sold their property a couple months ago. This is after 13 years.

I stand corrected according to the article the HOME program loan is forgiven after 10 yeras. the NCS loan ony has to be repaid if/when the house is sold.- Which should be easy to do with what is made from the sale.