How housing that is actually affordable to the poor is accomplished.
OUR MODEL - How Better Community Housing of Trenton (BCHT) does it...
I. Careful leveraging of state, federal, and private support coordinated by a caring, honest person
Materials and services donated or discounted by local architects, engineers, contractors, and business people
Significant monetary donations by individuals, places of worship, businesses, and other organizations
Land donations by the city
Time donated by volunteers and prospective homeowners
State, federal, county, and private grants
II. Financing for the homeowner provided by BCHT at 0% interest
A 15-year mortgage or installment sale agreement is held by BCHT
III. Homeowner learning and action.
Prospective homeowners must attend classes in financial literacy, home maintenance, community awareness, and life skills
Prospective and current homeowners must provide sweat equity by working on houses that are being rehabbed or constructed. They must give 100 volunteer hours before they can own a home. Once they move in, they must continue the spirit of giving, learning, and community responsibility by volunteering one day a month for the life of their mortgage or installment sale agreement. They may volunteer on building sites, in our office, or by attending community meetings and events.