pat.hemen at sd.usda.gov
01-02-2002, 01:58 PM
Arjuna,
The only experience I remember was when one member of a group lent funds
to buy housing. This was a church, and I was the treasurer. The church
made monthly payments to the "lender", who was a member of the church.
This happened several years before I was a lender myself, and I don't
remember the details of securing the loan. I don't remember an actual
mortgage. What I'm getting to is: Is it possible for the community to
issue bonds that members with cash could buy. This could create a loan
fund for members who need funds. Someone with experience in this type
of financing would have to tell what is possible and what is prudent.
It would seem to me that security could still be an issue. I'd like to
know what the group actually comes up with, it may be helpful to things
I do here in SD.
Pat Hemen
USDA Rural Development
1386 Lincoln Ave. SW
Suite C
Huron, SD 57350
This post transferred from the cdb-l mailing list
The only experience I remember was when one member of a group lent funds
to buy housing. This was a church, and I was the treasurer. The church
made monthly payments to the "lender", who was a member of the church.
This happened several years before I was a lender myself, and I don't
remember the details of securing the loan. I don't remember an actual
mortgage. What I'm getting to is: Is it possible for the community to
issue bonds that members with cash could buy. This could create a loan
fund for members who need funds. Someone with experience in this type
of financing would have to tell what is possible and what is prudent.
It would seem to me that security could still be an issue. I'd like to
know what the group actually comes up with, it may be helpful to things
I do here in SD.
Pat Hemen
USDA Rural Development
1386 Lincoln Ave. SW
Suite C
Huron, SD 57350
This post transferred from the cdb-l mailing list