Quote:
Originally Posted by Slava
Well the claw back is a percentage of the sale price, so while I can't say whether that would effect the municipal budget, I can see how it works. Attainable Homes would basically always get their money and depending on when the property was sold they might get the lions share. I think its a great program for a number of reasons, one of which is that it looks to be sustainable (although I haven't done a ton of digging).
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The way I read it, it was a claw back on only the appreciation (I could be wrong), not the total homeowners equity that includes the equity portion of resident's payments. Therefore if no appreciation or even (gasp) depreciation, there could be a solvency issue for the subsidiary corporation.