[quote author="MojoJD" date=1253751191]So now that I am all moved in, I thought life would be great. Unfortunately, about 2 weeks after I get in, a neighbor just across the way (in the back alley area where noise travels) moved in. He has one of the "low income housing" plots... yet is a young gentlemen, and has plenty of money to spend on nice new TVs, a nice car, and F*$%&# Beatles Rockband, which he plays horribly and loudly until 1:00am on weeknights with the windows open (and also has his friends who come over to play go smoke cigs and chat loudly on the balcony facing my windows). <strong>YOU ARE NOT THE GOD DAMNED WALRUS!!!</strong>
<strong>How the hell</strong> did this guy qualify for low income housing? I am against it altogether, but if there IS going to be low income housing, shouldn't a 3 br place have to go to a family-in-need instead of some bachelor?
Also, anyone have any advice on controlling the nuisance without starting a long, protracted battle?</blockquote>
There are a few requirements for the low-income housing. First is obviously the low income level, which must be documented and supported with tax returns, paystubs, etc. These income levels are tiered, depending upon the number of people in the family unit that are buying the home.
Second is a stipulation that DTI ratios must not exceed 35%, ostensibly to keep the homeowner within a reasonable payment schedule and to protect themselves from overpaying. This is a tough requirement to meet when the income has to be below a certain level, without a large down payment.
Third is that the home must be owner-occupied and homeowner must not hold title to any other property in CA.
These stipulations run with the property for the next 45 years, so he will have to find someone very similar when he tries to sell in the future. The city also caps the maximum sale price to future buyers.
Sellers can't discriminate based on familial status, but with the hoops that you have to jump through, it often times falls to the bachelor-type that you've described.
I have a listing of a similar property here: <strong><a href="http://www.134Liberty.com">www.134Liberty.com</a></strong> that has been difficult to find a qualified buyer for. It has the additional obstacle of being very close to the train tracks. We've had 4500+ website hits, 164 agent showings, and 4 offers, none of which have qualified. A full list of the affordable housing requirements may be found <strong><a href="http://www.tustinca.org/departments/redev/housing.html">here</a></strong>.
Good luck Mojo, and Koo-Koo-Ka-Choo.
-IR2
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