Sentences with phrase «cooperative ownership housing»

(A) is an existing first mortgage that was made for purchase of, or refinancing of another first mortgage on, a 1 - to 4 - family dwelling, including a condominium or a share in a cooperative ownership housing association;

Not exact matches

Unlike most affordable housing projects, residents of EVE will not simply be renters, but instead members of a housing cooperative with a share in ownership of the village — enabling them to create a modest asset that can be cashed out if and when they choose to leave.

In addition to being able to take advantage of tax deductions, the National Association of Housing Cooperatives (NAHC) says shareholders will find that co-ops have low turnover rates, lower real estate tax assessments, reduced maintenance costs, resident participation and control, and the ability to prevent absentee and investor ownership.