Non-profit helps fund home ownership
December 19, 2009
Special to the Star
Special to the Star
When the eight finalists for the annual World Habitat Awards were announced in the fall, a Toronto organization that helps low- and moderate-income people purchase their own homes made the prestigious short list.
The awards, created in 1985 and handed out each year at the United Nations' celebration of World Habitat Day, honour projects "that provide practical and innovative solutions to current housing needs and problems."
Home Ownership Alternatives, a Toronto non-profit corporation, was recognized for providing financing to prospective homeowners in the form of second mortgages that don't need to be paid back until the property is sold – allowing for more manageable first mortgages and boosting a down payment to 25 per cent.
To read more click on the link: http://www.yourhome.ca/homes/article/739840
No comments:
Post a Comment