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Single Mother Buying A House Article
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Types Of Low Income Single Mother Housing Options
from:In looking for low-income single mother housing options, there are the conventional routes, and the unconventional. If you are a mother in need of low-income housing, make sure you look into all your options to determine what is best for your family.
Public Housing, Subsidized Housing, Or Housing Vouchers
These are the conventional routes to obtain low-income housing by going to an agency that provides some sort of housing assistance. The Department of Housing and Urban Development (HUD) has information on many conventional manners of obtaining low-income single mother housing. However, these are not the only options.
The Return Of The Extended Family
It used to be the extended family was conventional and the nuclear family was an oddity. Times have changed but the situation for many low-income families hasn't. It's still more economical for single mothers to have some sort of built-in support system at home than relying on handouts from public assistance. Whether that support system is a live-in elderly relative or sharing a home with relatives, it reduces housing costs and increases potential support for a single mother. It may not be a popular low-income single mother housing option, but it still is the most stable family situation.
Owning Your First Home
A single mother may think owning her own home is out of her reach. The fact is owning a home has many added tax advantages that increase her take home pay. In addition, there are a variety of low-income single mother housing programs geared towards matching or granting down payments for a new home. The caveat is that the single mother must have a good income to support the mortgage payments and if her credit has been damaged, that also needs to be repaired.
However, if a single mother has the conventional option to own her own home, the choice really is a no-brainer. It establishes better credit for her and builds equity as she continues to raise her children. With so many more programs available not only to assist in buying a new home, but also some build them for this segment of the population like Habitat for Humanity, then it is a very wise financial move for a single mother to jump on the home buying bandwagon.
Single Mother Co-Housing
If there are problems with owning a home on your own, there are services to match single mothers together for co-housing. In this case, there would be two signers on the housing note and both mothers would own the home, but there would be two incomes to pay the mortgage. This option for low-income single mother housing is fairly new and would need to be investigated fully. One would have to have contingency plans for if one mother lost a job, or became ill. But, it might not be any different than today's middle-class traditional families.
Single Mother Buying A House News
Facing foreclosure - Spencer Daily Reporter
Facing foreclosure Spencer Daily Reporter "I try to cry when no one is around," she said. Tears form in Mechelle Williams eyes as she talks about the last 10 years: Becoming a single mom, buying a home and now facing foreclosure on that home. She wipes away the tears, refusing to let them fall ... |
SBLI of Massachusetts Re-Launches Website - Business Wire (press release)
SBLI of Massachusetts Re-Launches Website Business Wire (press release) The site now contains enhanced “Life Stage” content that allows visitors to find information tailored specifically to their personal situation, no matter what stage of life they are in – newly married, buying a house, new parents, single parent, ... |
A Closer Look at the Problem of Phoenix Divorce and Foreclosure - WebWire (press release)
A Closer Look at the Problem of Phoenix Divorce and Foreclosure WebWire (press release) People who end up facing divorce wonder if there is any good reason we buy houses. PHOENIX, Arizona (Feb 07, 2012) According to Arizona divorce attorneys Singer and Pistiner PC, “More often than not, one of the key factors precipitating divorce is ... |
Two Tacoma families' longtime home makes way for continued expansion at St ... - TheNewsTribune.com
 TheNewsTribune.com | Two Tacoma families' longtime home makes way for continued expansion at St ... TheNewsTribune.com “It was a wonderful neighborhood full of children,” said Paula Salatino White, whose parents bought the home in 1951. All around the hospital, stores and single-family homes were gradually swallowed by medical progress. “It was so slow and subtle, ... |
President Comes to Area, Announces Homeowners Bill of Rights - Virginia Connection Newspapers
President Comes to Area, Announces Homeowners Bill of Rights Virginia Connection Newspapers I woke up at 4 am, because I was really excited to see the president. My mother knows real estate, and I've seen these big empty houses all over Northern Virginia. It's scary to think about buying a home here," he said. During his speech, Obama also ... |
Big suppliers absent from Builders' Show - MarketWatch
Big suppliers absent from Builders' Show MarketWatch The enticing smell of baking cookies would draw attendees to take a look at one oven or another. Buying foreclosures to turn them into rental properties is tricky business. Mack Companies, in Chicago, invests in about one out of every 40 homes it ... |
Local Woman Gets Surprised By Ellen - KOAT Albuquerque
Local Woman Gets Surprised By Ellen KOAT Albuquerque Twenty-one-year-old Jackie Lovato says she still can't believe what happened to her last week. The single mother is now $15000 richer and has a new car. "There is somebody in the audience I want to meet right now. Jackie Lovato come on down! |