BENEFITING: Community Action Partnership of Lake County
EVENT DATE: Sep 01, 2016
Affordability is the largest housing problem in Lake County, IL.. Estimated cost burden in Lake County shows 51% of renters and 37% of homeowners as paying more than 30% of their income on housing cost.
Homeownership may be more affordable than renting. Fair Market Rent (FMR) for a 2-bdr apartment in Lake County is $988 per month. A typical mortgage payment on a $100,000 house is only $634 per month.
What can you do? If you own property in the Lake County, IL area, consider donating a single family house to this project. Veterans who enroll in Catching A Dream home ownership program will receive financial literacy and home ownership education to help ensure that the veteran family will be a successful home owner. Donors will receive a tax letter for the full assessed valued of the home.
Cash donations will be applied to rehab costs.