- This topic has 14 replies, 1 voice, and was last updated February 14, 2007 at 12:59 am by .
- February 14, 2007 at 12:59 am #250943Guest
As I’ve posted before, I’m a newly single mom with a toddler. We are
living with my folks for awhile, but I’m trying to figure out how Ican afford a decent place to live on our own. I was excited to find
out about a new housing development in my parents town – 16
townhouses, 4 of which are designated as affordable housing. Theschool system is very good, it would be 5 minutes from my parents,
and mixed in with “regular” housing, so my daughter wouldn’t have
the stigma of living on “the wrong side of the tracks”. I was verydisheartened to learn about the maximum allowable income in order to
qualify. Besides the fact that I will earn more than the maximum
between a job and child support, I don’t see how anyone could affordthe mortgage on that income. I crunched the numbers over and over,
deleting everything from my budget that wasn’t necessary for basic
survival, and it just didn’t add up. Who are these affordablehousing units for? The bank won’t give you the mortgage if your
income isn’t sufficient, but if your income is sufficient to support
the mortgage then you don’t qualify for affordable housing.Has anyone else run into this? Any words of wisdom?
P.S. This is in Massachusetts.
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