Charlie West- 505 W 53rd condos (York: second mortgage, home equity loan, homes)

[City_Dweller_007]

Originally Posted by Terisis

Did you submit your documents or you withdraw your application?

I did not submit as I've already stated. Friday is my deadline. So they will move on after that time.

[Draconyte]

Originally Posted by City_Dweller_007

I'm going to offer this to everyone as a point of information. I was contacted about 10 days ago for my documents etc. My deadline is 4/1 but I've already decided not to pursue it. Don't ask me what my log # is because I'm in a special class and it won't matter for you. I'm just telling you this so that you know they are finally starting to process the applications. I would strongly suggest looking through the marketing booklet to make sure you qualify. One of the reasons I decided not to proceed is that I realized that the way the calculate the income would put me out of the running and I didn't want to go through the grueling process when I already know the outcome. Also the location is a bit shaky and those units are on the small side.
So good luck to everyone else. If nothing else I'm sure this message gives you hope.
Peace!

Thank you for the update. Your reasons are your own and I understand. I just wanted to say I appreciate the knowledge. granted at 23XXXI am not in any running at the moment.

[City_Dweller_007]

Originally Posted by Draconyte

Thank you for the update. Your reasons are your own and I understand. I just wanted to say I appreciate the knowledge. granted at 23XXXI am not in any running at the moment.

You're welcome and my log # was way lower but I'm a special class. BTW I was going for the 1 bedroom if that matters to anyone. Really my point in posting was just to let people know they have finally gotten to this part of the process. I'm going to keep following this forum out of curiosity. It's not a lot of apartments. So it shouldn't take long for them to fill it up.
It was a very painful decision when I decided not to pursue this opportunity because it's so hard to get to this point but I knew it was right for me anyway.

[Terisis]

This is will clear up everyone questions.
Here is a list of documents required if you are chosen
2022 W2 and tax returns
6 months of checking statements/savings
Child support if applicable
Certificate of disability if applicable
Minimum $30,059.08 savings for 2 bedroom
Current lease
12 months rent receipts
6 months pay stubs
Copy of Social security

I applied for a 2 bedroom I was denied obviously I don’t have 34,000 saved. Also this condo is not eligible for first time buyers. Yes, I paid for the education and spoke with a counselor who confirmed. You must fund the down payment yourself. Log number 2405. Yes, I am sad but I would of been overwhelmed with the Mortgage Which is $1600/1700 including the maintenance and upkeep fees. Hope I was able to help everyone waiting. Any questions message me.

I am going to spend my time working on my YouTube channel
http://https://youtube.com/channel/U...wwf-cPPjuQGqDg

[City_Dweller_007]

Originally Posted by Terisis

This is will clear up everyone questions.
Here is a list of documents required if you are chosen
2022 W2 and tax returns
6 months of checking statements/savings
Child support if applicable
Certificate of disability if applicable
Minimum $30,059.08 savings for 2 bedroom
Current lease
12 months rent receipts
6 months pay stubs
Copy of Social security

I applied for a 2 bedroom I was denied obviously I don’t have 34,000 saved. Also this condo is not eligible for first time buyers. Yes, I paid for the education and spoke with a counselor who confirmed. You must fund the down payment yourself. Log number 2405. Yes, I am sad but I would of been overwhelmed with the Mortgage Which is $1600/1700 including the maintenance and upkeep fees. Hope I was able to help everyone waiting. Any questions message me.

I am going to spend my time working on my YouTube channel
http://https://youtube.com/channel/U...wwf-cPPjuQGqDg

I'm sorry it didn't work out for you. Saying that I can never understand why you would apply if you knew you didn't have the down payment. That was pretty much stated right up front. I didn't continue with my application because after I asked them questions, which they would not respond to, I proceeded to dig deep in the weeds and look at how they calculate the income numbers. Then I realized they would turn me down. I really don't think their process is fair for a lot of reasons. I think they have way too many loopholes which allows them to steer these apartments to who they want to put in there. There has to be a fairer way.

[WildAboutHarry]

Originally Posted by Terisis

Also this condo is not eligible for first time buyers.

I have heard of lotteries ONLY FOR first time buyers. I have not heard until now of lotteries that expressly exclude first time home buyers.

[pink snake]

Originally Posted by WildAboutHarry

I have heard of lotteries ONLY FOR first time buyers. I have not heard until now of lotteries that expressly exclude first time home buyers.

I believe you can not have owned property previously. It is for first time buyers.

[City_Dweller_007]

Originally Posted by pink snake

I believe you can not have owned property previously. It is for first time buyers.

I'm pretty sure they mean that you can't own another home at the same time. This would make perfect sense.

[pink snake]

Originally Posted by City_Dweller_007

I'm pretty sure they mean that you can't own another home at the same time. This would make perfect sense.

They make it very clear. "ANY PROSPECTIVE APPLICANT WHO CURRENTLY OWNS OR PREVIOUSLY HAS PURCHASED A RESIDENTIAL PROPERTY IS INELIGIBLE."

[City_Dweller_007]

Originally Posted by pink snake

They make it very clear. "ANY PROSPECTIVE APPLICANT WHO CURRENTLY OWNS OR PREVIOUSLY HAS PURCHASED A RESIDENTIAL PROPERTY IS INELIGIBLE."

Oh that sucks! Yeah so if you fell on hard times and had to sell your last place and blew threw the money then you don't qualify. Like I said earlier, this system isn't very fair.