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From the link:
"The program is available in rural communities of 20,000 people or less."
Definitely doesn't apply to this family, but thank you for the information. I've been looking online but can't find anything that requires 7 years occupation of a house. I wonder what kind of program requires you to stay in a house for 7 years.
There are other similar programs around. When I was first married my husband and I took advantage of a similar local program in Memphis, having to live in the home for x number of years or facing some sort of penalty when selling. I don't remember any details other than it had something to do with attempting to keep the inner city neighborhood a stable residential area.
It sounds like the mother wants him to co-sign (or sign) a mortgage and perhaps a first time home buyer agreement that is either state or locally based. There are local and state programs that will assist a first time buyer.
If the mother doesn't have a job, she's not getting a mortgage for a house. She needs the son for the mortgage. As long as that mortgage is in place it's not likely he'll every be able to get another one for himself.
Someone we know (22yo guy) is being pressured by his mother to sign a "housing contract" that would require him to live in the house for 7 years--with his mother, older sister and younger brother that he currently lives with. From what I understand, they live in challenging circumstances (a tiny apartment or a mobile home) and the mom wants to buy a house. This scenario sounds like a special housing situation--perhaps for immigrants or poverty-level families.
His mother immigrated from Mexico decades ago. There is no husband/father in the picture and it sounds like all 3 kids have different fathers. The kids are all US citizens. The older sister has a young child with no husband/father in the picture. It's my understanding that the mother may be attempting to get her citizenship but she has no job. The older sister supposedly has a job, but the 22 yo son is basically supporting his family with a minimum wage job and has been filing taxes as head of household for the past few years. To me, it sounds like they are using him and if he is forced to sign this "contract" he will not be able to move on with his life (more education, pursue marriage etc). His mother and siblings are putting immense guilt and pressure on him to do this for them so they can have a house, and he is very torn and stressed about this. The son is not in a financial situation to move out on his own. But I personally think he should try to find some friends to live with and break free from his family.
Have you heard of a housing purchase program like this for immigrants? Could this pressure from his mother/siblings be seen as duress?
As was already said, the son is a US citizen so it won't be an immigrant program.
My opinion is it is a first time low income home buyer program of some sort. You thread would be better in the real estate section where someone may know.
I personally do not see how he will even qualify if he's only making minimum wage. I really don't think he has anything to worry about. It's very hard for someone with a good job and credit history to qualify for a housing loan. I can't see a 22 year old with a poor job and probably no credit history qualifying for one.
We just sold our house, my almost 40 year old son applied for a loan, he was able to qualify. Back when he was younger, he tried to qualify for a car loan, he needed me as cosigner.
They built new homes for people with limited means or were seniors here in our small texas town.
They did have to own the land. After the home was built - they did have to live there and pay taxes for a certain number of years.
The house was built for them at no charge.
The one situation I know of, there was a way out. If you sold them property, you would not get any of the profit until a certain number of years, and once you were past that, you would only get 50%. The other 50% goes to the county that helped with the costs. The point is that there should be some way out of a contract that “forces” someone to live somewhere, right?
The one situation I know of, there was a way out. If you sold them property, you would not get any of the profit until a certain number of years, and once you were past that, you would only get 50%. The other 50% goes to the county that helped with the costs. The point is that there should be some way out of a contract that “forces” someone to live somewhere, right?
Of course. You can't be 'forced' to live somewhere, but instead there are usually hefty penalties for defaulting on the agreement to live there. I think the contract we signed had penalties for renting the property out, using the home for any kind of business, not using it as a primary residence, and for selling before a set time period.
The one situation I know of, there was a way out. If you sold them property, you would not get any of the profit until a certain number of years, and once you were past that, you would only get 50%. The other 50% goes to the county that helped with the costs. The point is that there should be some way out of a contract that “forces” someone to live somewhere, right?
True. But even if he were to sign this "contract" - would they be checking to see if he was living there?
My aunt had one of those homes built. She passed last year, but I think she had already met the time. And now her grandson lives there.
Someone we know (22yo guy) is being pressured by his mother to sign a "housing contract" that would require him to live in the house for 7 years--with his mother, older sister and younger brother that he currently lives with. From what I understand, they live in challenging circumstances (a tiny apartment or a mobile home) and the mom wants to buy a house. This scenario sounds like a special housing situation--perhaps for immigrants or poverty-level families.
His mother immigrated from Mexico decades ago. There is no husband/father in the picture and it sounds like all 3 kids have different fathers. The kids are all US citizens. The older sister has a young child with no husband/father in the picture. It's my understanding that the mother may be attempting to get her citizenship but she has no job. The older sister supposedly has a job, but the 22 yo son is basically supporting his family with a minimum wage job and has been filing taxes as head of household for the past few years. To me, it sounds like they are using him and if he is forced to sign this "contract" he will not be able to move on with his life (more education, pursue marriage etc). His mother and siblings are putting immense guilt and pressure on him to do this for them so they can have a house, and he is very torn and stressed about this. The son is not in a financial situation to move out on his own. But I personally think he should try to find some friends to live with and break free from his family.
Have you heard of a housing purchase program like this for immigrants? Could this pressure from his mother/siblings be seen as duress?
True. But even if he were to sign this "contract" - would they be checking to see if he was living there?
My aunt had one of those homes built. She passed last year, but I think she had already met the time. And now her grandson lives there.
His mother may put pressure on him to stay there. Even if he decides to live somewhere else, he likely wouldn't be able to rent an apartment bc they usually do a credit check and they would see he has other financial responsibilities.
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