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Old 07-24-2015, 01:15 PM
 
19 posts, read 41,791 times
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I wanted to update people since I have been following the responses. I received an email today regarding th lottery and was selected. Interviews are the first week of august to determine preliminary eligibilty. And based on the email I was chosen because of CB preference and not by disability preference. There is a log # on the email and I am unsure if that is in sequential order to give you an idea of where they may be in the process. But my # was above 500 and less than 1000. Wishing everyone luck in their lottery selection and interview process
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Old 07-24-2015, 01:44 PM
 
353 posts, read 527,495 times
Reputation: 81
Quote:
Originally Posted by joker1296 View Post
I wanted to update people since I have been following the responses. I received an email today regarding th lottery and was selected. Interviews are the first week of august to determine preliminary eligibilty. And based on the email I was chosen because of CB preference and not by disability preference. There is a log # on the email and I am unsure if that is in sequential order to give you an idea of where they may be in the process. But my # was above 500 and less than 1000. Wishing everyone luck in their lottery selection and interview process
Awesome! Congratulations and thanks for updating us.

Did they request documents in the email?

Please update us on your process as it goes along. Thanks again for sharing.
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Old 07-24-2015, 02:02 PM
 
19 posts, read 41,791 times
Reputation: 13
Yes. No surprises if you attended the open house meetings. 3 years signed Tax Returns, 3 years W2s, Verification of liquid Assets for down payments and closing costs, bank statements past 3 months, child support or alimony payments and a $50.00 check for criminal background check. They do make it clear that this selection is not a guarantee but more of a evaluation to see your eligibility. Im quite sure many, many people will be eliminated through the interview process. Remember although they are calling it affordable ownership, mathmatically it is damn near impossible for someone who makes $50K to pay a mortgage, taxes & fees of almost $2000K a month while also having approx $23K minimum in funds for a down payment & closing costs for a 1 BR. And thats assuming they get a great interest rate based off their credit profile. That funding requirement can only be made by parents supporting a young recent grad, free-lancers who are not telling the truth about their actual income, or those that are operatingn illegal businesses on the side. The way I see it the closer you are to the top of the range of the income requirements the better chances of actually making it through the interview process after being selected through the lottery. Plus its still at the end the discretion of the bank if they will provide you with the loan.
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Old 07-24-2015, 05:48 PM
 
353 posts, read 527,495 times
Reputation: 81
Quote:
Originally Posted by joker1296 View Post
Yes. No surprises if you attended the open house meetings. 3 years signed Tax Returns, 3 years W2s, Verification of liquid Assets for down payments and closing costs, bank statements past 3 months, child support or alimony payments and a $50.00 check for criminal background check. They do make it clear that this selection is not a guarantee but more of a evaluation to see your eligibility. Im quite sure many, many people will be eliminated through the interview process. Remember although they are calling it affordable ownership, mathmatically it is damn near impossible for someone who makes $50K to pay a mortgage, taxes & fees of almost $2000K a month while also having approx $23K minimum in funds for a down payment & closing costs for a 1 BR. And thats assuming they get a great interest rate based off their credit profile. That funding requirement can only be made by parents supporting a young recent grad, free-lancers who are not telling the truth about their actual income, or those that are operatingn illegal businesses on the side. The way I see it the closer you are to the top of the range of the income requirements the better chances of actually making it through the interview process after being selected through the lottery. Plus its still at the end the discretion of the bank if they will provide you with the loan.
Good point! Thanks for sharing.
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Old 07-26-2015, 07:45 AM
 
6 posts, read 14,850 times
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Wow, this is awesome! I have CB preference, so I hope I hear something soon! Do you know if they do home visits if you live in the CB preference area?

Please keep us posted with your status and the process! So curious about it all!
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Old 08-04-2015, 12:56 PM
 
2 posts, read 4,121 times
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Hi! I put in the lottery on the whim, and have an interview scheduled.

Does anyone know what the apartments look like at the building that they are already available at 45 Clermont? I have been looking for images online, nothing available though.
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Old 08-04-2015, 08:48 PM
 
6 posts, read 14,850 times
Reputation: 10
Do you have CB preference? Also, did they email you or send a letter in the mail. I have CB preference and I haven't heard from them. And the only images availible are the town houses.
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Old 08-09-2015, 08:33 AM
 
Location: Manhattan
20,169 posts, read 26,469,688 times
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Quote:
The lottery just closed yesterday May 26th and promises homeownership with
amenities.
How nice of OP to wait until the day AFTER the lottery deadline to give us the head's up.
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Old 08-09-2015, 10:36 AM
 
943 posts, read 3,719,487 times
Reputation: 419
OP may or may not have done it on purpose, but that posting was on the hpd website for over a month. People complain about affordable housing and what is happening to the middle class everyday on this forum. Isn't the onus on those people to check the hpd website at least once per week?
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Old 08-10-2015, 07:47 AM
 
353 posts, read 527,495 times
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Quote:
Originally Posted by wandaww View Post
Hi! I put in the lottery on the whim, and have an interview scheduled.

Does anyone know what the apartments look like at the building that they are already available at 45 Clermont? I have been looking for images online, nothing available though.
Awesome!

Did you have any preferences?
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