Habitat For Humanity Atlantic Avenue Housing

Habitat-NYC, is the local affiliate with Habitat for Humanity, whose mission is to find housing for those in desperate need. This local group is building a 41 residence condominium on Atlantic Avenue in the Ocean Hill-Brownsville area, right around the corner from Weeksville in Brooklyn.

In order to qualify for a Habitat-NYC home, you must meet the following criteria:

1. Need Families must be living in either substandard or overcrowded housing conditions or have a severe rent burden (pay more than 50 percent of household income for rent).

2. Willing to Partner. Families must be willing to help build their home and the homes of their neighbors by providing 300 hours of “sweat equity” per adult household member.

3. Income Requirements. Families must earn between 50 and 80 percent of the area median income. Please see the table below for income ranges.

Income Requirements*
Household Size//Minimum Income//Maximum Income
1 //$24,800 //$39,700
2 //$28,350 //$45,350
3 //$31,900 //$51,050
4 //$35,450 //$56,700
5 //$38,300 //$61,250
6 //$41,100 //$65,750
7 //$43,950 //$70,300
8 //$46,800 //$74,850*
*As per U.S. Department of Housing and Urban Development 2006 Figures.

For more info and an application, send a self-stamped envelope with $.65 cents postage to:

Habitat for Humanity - New York City
Atlantic Avenue Selection
334 Furman Street
Brooklyn, NY 11201

10 Beginning Steps To Home Ownership

1. Decide whether a condominium, co-op apartment, single home or multi-family dwelling is your dream home come true.

2. Gather together your W-2's and tax returns for the last two years.

3. Collect a minimum of 2 pay stubs.

4. Prepare two months worth of credit card and bank statements. How much is in savings and what are your monthly expenses?

5. Get a credit report done. You need to know the score BEFORE you apply for a mortgage. The score influences the interest rate and loan terms offered. Good credit is 640-700, excellent credit is 700.

6. If credit report score is below 640, consider speaking with a financial counselor on how to improve your score. Also, correct any errors on the report. Doing so will save you money.

7. Find a local Bank Loan Officer or a reputable Mortgage Broker. If you belong to a union, like DC37 or 1199, often they have special member services specifically aimed at helping you find an affordable loan for your dream home.

8. Get pre-approval for a mortgage - it will help you in finding the right home for the right price.

9. Find a real estate broker that understands your personal requirements; for example, you may need a home close to public transportation in the city because you don't drive.

10. Ask questions. Find out if you qualify for special loan programs that provide down payment assistance. Take a first home buyer's class from your local bank, credit union, or community board.

If you have experience purchasing a home, know of special programs, or have any comments or questions, don't hesitate to post.

Go See The Doc - BROOKLYN MATTERS, Tonight!

Go see this must-see documentary about the Atlantic Yards Project, sponsored by Crown Heights North Association, Inc.

When: 6:45 PM, Tonight, Wednesday, 6/20/07
Where: St. Gregory's RC Church
991 St. John's Place
Brooklyn, NY

After the show, check out their website: www.brooklynmatters.com

Bring some popcorn for me!

Razing NY: The Disappearance of Affordable Housing (excerpt)

The Next CEO President?

Surprise, surprise! Bloomberg announced yesterday that he is renouncing his Republican affiliation in favor of Independent political ideology. This sista says he's running for President! Check out the article in Business Week (http://www.businessweek.com/), the 6/25/07 issue, on page 58, with Mike's very distinguished mug starring readers straight in the eye. The magazine credits the Mayor for "creating a new model for public service that places pragmatism before politics."

Bloomberg has maintained the business elite's agenda while in office, promoting large scale development without addressing the common man's need for decent wages and safe, affordable housing. Want to see Wall Street investors and private developers make more money not just in Central Brooklyn but accross America? Vote Bloomberg for CEO President, 2008.

Recent NYT Real Estate Article Spotlights Ocean Hill-Brownsville Area

Next door to Weeksville, demand for affordable housing in Ocean Hill and Brownsville areas has risen, driving property values skyward. Filled with neatly kept Nehemiah Homes that originally sold for $65,000, prices for subsidized houses now range from $350,000 to $450,000. Private developers are not far behind, with prices ranging from $600,000 to $650,000.

Go to http://www.nytimes.com/ and search their Real Estate section for the 6/17/07 article.