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Aug. 03, 2007
Wanted: Eligible families, $500 reward
By CHRISTINA EICHELKRAUT
Citizens for Affordable Housing Inc., or CAHI as it's more commonly known, is offering a reward of $500 to help them find families that need a roof over their head. CAHI is a nonprofit organization that quite literally helps families to build a home. The organization, which has been in Nevada since March of 1993, came to Pahrump three years ago. Since then, the organization has helped low-income and very low-income families to become homeowners by helping them to build their homes in lieu of a down payment. But now CAHI is left with five lots that need to have homes built on them before the end of the year, or the organization will lose the land. To get the reward, all you have to do is find an eligible family and direct them to the CAHI office, located at located at 2280 E. Calvada Blvd., Suite 201. If the referred family is deemed eligible, once construction begins you'll find yourself $500 richer. The requirements for CAHI eligibility are based on United States Department of Agriculture requirements. Applicants must have an income of $22,000 per year, and the maximum income for a family of four in Nye County is $47,300. The applicant must be willing to contribute 35 hours a week on the construction of the home, which can be divided into 17-1/2 hours each between the head of the household and a spouse, building partner, or volunteer. Also, the applicant can not have been bankrupt during the previous three years and has to be able to demonstrate the ability to repay the loan. However, CAHI does offer credit counseling services free of charge. Also, an applicant can not have owned a house during the previous three years. Mortgages for CAHI homes are funded through the USDA Rural Development Program. Interest rates on the mortgages range from 1 percent to 6.25 percent. For more information, or to refer a potentially eligible family, contact the CAHI office at (775) 727-9981. |
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