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Subject: Home Ownership Programs
Date: Thu, 10 Jan 2008 09:24:56 -0600
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    <TD align=3Dmiddle><FONT face=3DVerdana size=3D6>Home Ownership=20
    =
Programs</FONT></TD></TR></TBODY></TABLE></v:textbox></v:shape><![endif]-=
-><![if !vml]><span style=3D'mso-ignore:vglayout;position:
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      <DIV class=3DSection1>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>The Lincoln=20
      Housing Authority offers two home ownership programs, which =
generally are=20
      available only to current Lincoln Housing Authority tenants or=20
      clients.</FONT><o:p></o:p></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3DVerdana><SPAN=20
      style=3D"COLOR: windowtext"><o:p>&nbsp;</o:p></SPAN></FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT style=3D"FONT-SIZE: 14pt" face=3DVerdana>DOWN =
PAYMENT=20
      ASSISTANCE</FONT><SPAN style=3D"FONT-SIZE: 14pt; COLOR: =
windowtext"><FONT=20
      face=3DVerdana> PROGRAM</FONT><o:p></o:p></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>In this=20
      program the Housing Authority will loan to qualified=20
      clients</FONT><o:p></o:p></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>7.5% of the=20
      purchase price of a home, up to a maximum of $3,750. The loan is =
0%=20
      interest and requires repayment upon sale or transfer=20
      </FONT><o:p></o:p></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3DVerdana>o</FONT><SPAN=20
      style=3D"COLOR: windowtext"><FONT face=3DVerdana>f the home.=20
</FONT></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft>&nbsp;</P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><B><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>Who is=20
      Eligible?</FONT><o:p></o:p></SPAN></B></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>Tenants or=20
      clients of the Housing Authority are eligible to participate in =
the=20
      program if they meet the following =
criteria:</FONT><o:p></o:p></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft>&nbsp;&nbsp; <FONT face=3D"Verdana Ref" =
size=3D2>1.&nbsp; Be a=20
      current Family Self Sufficiency (FSS) program participant in good=20
      standing</FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3D"Verdana Ref"=20
      =
size=3D2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbs=
p;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp=
;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;=
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =

      OR</FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3D"Verdana Ref"=20
      size=3D2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Be a graduate =
of the FSS=20
      program within the past 3 years and current client of =
LHA</FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3D"Verdana Ref"=20
      =
size=3D2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbs=
p;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp=
;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;=
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =

      OR</FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3D"Verdana Ref"=20
      size=3D2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Be a graduate =
of the FSS=20
      program within the past year if not a current client of =
LHA</FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3D"Verdana Ref" size=3D2></FONT>&nbsp;</P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3D"Verdana Ref" size=3D2>&nbsp;&nbsp; =
2.&nbsp; Have been=20
      a client with LHA for a minimum of 2 years</FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3D"Verdana Ref" size=3D2>&nbsp;&nbsp; =
</FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3D"Verdana Ref" size=3D2>&nbsp;&nbsp; =
3.&nbsp; Possess a=20
      good record of paying rent and utilities in compliance with their=20
      lease.</FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft>&nbsp;</P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3D"Verdana Ref" size=3D2>&nbsp;&nbsp; =
4.&nbsp; No lease=20
      violations.</FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft>&nbsp;</P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3D"Verdana Ref" size=3D2>&nbsp;&nbsp; =
5.&nbsp; Meet=20
      current income guidelines for the program</FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft>&nbsp;</P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3D"Verdana Ref" size=3D2>&nbsp;&nbsp; =
6.&nbsp; Have at=20
      least $500 of their own equity towards the home =
purchase.</FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft>&nbsp;</P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>Participants=20
      must be pre-approved for this =
program.</FONT><o:p></o:p></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3DVerdana><SPAN=20
      style=3D"COLOR: windowtext"><o:p>&nbsp;</o:p></SPAN></FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><B><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>Are there=20
      certain homes that qualify?</FONT><o:p></o:p></SPAN></B></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>No, the only=20
      requirement is that the buyer must reside in the home and the home =
is a=20
      single family dwelling located in <ST1:PLACE =
w:st=3D"on"><ST1:PLACENAME=20
      w:st=3D"on">Lancaster</ST1:PLACENAME> <ST1:PLACETYPE=20
      w:st=3D"on">County</ST1:PLACETYPE></ST1:PLACE>. Manufactured homes =
must be=20
      permanently affixed to land owned by the client. No land contracts =
will be=20
      considered.</FONT><o:p></o:p></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3DVerdana><SPAN=20
      style=3D"COLOR: windowtext"><o:p>&nbsp;</o:p></SPAN></FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><B><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>How does=20
      the Housing Authority secure this =
loan?</FONT><o:p></o:p></SPAN></B></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3DVerdana><SPAN class=3DGramE><SPAN=20
      style=3D"COLOR: windowtext">By filing a Deed of Trust against the=20
      property.</SPAN></SPAN></FONT><SPAN=20
      style=3D"COLOR: windowtext"><o:p></o:p></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3DVerdana><SPAN=20
      style=3D"COLOR: windowtext"><o:p>&nbsp;</o:p></SPAN></FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><B><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>Do=20
      lenders require some of the client=92s own money for a down=20
      payment?</FONT><o:p></o:p></SPAN></B></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>Clients need=20
      to consult with their lender concerning their specific=20
      situation.</FONT><o:p></o:p></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3DVerdana><SPAN=20
      style=3D"COLOR: windowtext"><o:p>&nbsp;</o:p></SPAN></FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><SPAN style=3D"COLOR: windowtext"><FONT =
face=3DVerdana>To obtain=20
      more information about this program, contact Marilyn Agena at=20
      (402)434-5563 or <A=20
      style=3D"COLOR: #0066cc; TEXT-DECORATION: underline; =
text-underline: single"=20
      =
href=3D"mailto:MarilynA@Lhousing.com">MarilynA@Lhousing.com</A>.</FONT><o=
:p></o:p></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3DVerdana><SPAN=20
      style=3D"COLOR: windowtext"><o:p>&nbsp;</o:p></SPAN></FONT></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><SPAN style=3D"FONT-SIZE: 24pt; COLOR: =
windowtext"><FONT=20
      face=3DVerdana>LEASE AND PURCHASE =
PROGRAM</FONT><o:p></o:p></SPAN></P>
      <P class=3DMsoNormal=20
      style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; =
mso-layout-grid-align: none"=20
      align=3Dleft><FONT face=3DVerdana><SPAN style=3D"COLOR: =
windowtext">The Lincoln=20
      Housing Authority Lease and Purchase Programs were created in =
1995. Houses=20
      sold under the program are built by <ST1:PLACE =
w:st=3D"on"><ST1:PLACENAME=20
      w:st=3D"on">Northeast</ST1:PLACENAME> <ST1:PLACETYPE =
w:st=3D"on">High=20
      School</ST1:PLACETYPE></ST1:PLACE> students one house is built =
each year.=20
      Generally, the houses are sold to families currently living in =
public=20
      housing and may be affordable to families with incomes as low as =
$25,000.=20
      Tenants rent the house for up to five years with the understanding =
that=20
      they will buy the house by the end of the lease period. A portion =
of the=20
      monthly rent is used to purchase property insurance and reduce the =

      principal on the purchase price; the remainder is placed in an =
escrow=20
      account which accumulates towards a down payment on the house. LHA =
works=20
      with the family during the lease period to help them prepare for =
home=20
      ownership. At the end of the five years, the tenant must seek =
permanent=20
      financing for the remainder of the balance of the purchase price =
through=20
      normal real estate lending channels. The Housing Authority =
recovers most=20
      of its costs to build the house at the time of the sale of the =
house. To=20
      obtain more specific information about the Lease and Purchase =
Program,=20
      contact Doug Marthaler at (402)434-5530 or=20
      Doug@L-housing.com.</SPAN></FONT><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: =
windowtext"><o:p></o:p></SPAN></P>
      <P class=3DMsoNormal style=3D"MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" =

      align=3Dleft><FONT =
face=3DVerdana><o:p>&nbsp;</o:p></FONT></P></DIV>
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