Anonymous ID: f3527d July 27, 2022, 12:49 p.m. No.16844308   🗄️.is 🔗kun   >>4538 >>4936 >>6000

>>16843788

>About Comite de Bien Estar Inc.

fine print

"Comite gets to vote for you"

 

Becoming a Comité Member

 

Anyone can become a Comité member by paying an initial $650 deposit, a $40 membership fee and $5 per month thereafter. There is no payment schedule and members make payments as they can afford to do so, but a monthly deposit of about $150 is expected until we complete the development of the land (about 18 months). When a member has accumulated $2,500 (in addition to fees) he/she is eligible to choose a lot.The cost of a lot minus the amount the member actually has on account (their equity), leaves a balance, for which we arrange financing. The Comité acts as a fiduciary agent and facilitates transfer of the deed of trust; the member makes monthly payments to Title Company into a restricted trust account to pay off the development/permanent loan to the bank. We establish a reserve account that covers any "delinquent" member so they maintain excellent credit.

 

Over a period of about 18 months, a member develops equity which now provides them with a vehicle for leverage on a mortgage (increased home ownership, HUD Priority). They can take up to five or even ten years to pay off their lot, or may decide that the time is right to build their home; this is the time we provide the majority of our housing programs and services to alleviate financial duress or other impediments to affordable housing. Learn more about our housing programs