Castroville & Soledad : Low-Income Homeowners In Dispute With City Officials

View From A Non-Profit Serving Carmel, Carmel Valley, Gonzalez, Greenfield, King City, Marina, Monterey, Pacific Grove, Pebble Beach, Salinas, Seaside And Soledad California

Housing advocates held a press conference last week arguing that deed restrictions on low-income housing home loans for residents in Castroville & Soledad need to be removed.  They were put in place during the housing boom, but Sabino Lopez (deputy director of the Center for Community Advocacy) and Alfred Diaz-Infante (CEO of the Community Housing Improvement Systems and Planning Association (CHISPA)) argued alongside 257 homeowners in Soledad and Castroville that they should be lifted.  They believe they deprive the homeowners of the flexibility needed in order to get home improvement loans, settle divorces and do refinancings.  The deeds were put in to prevent short-term resales, basically having people come in and flip the houses.  This was at a time when redevelopment agencies were trying to spur growth in these communities, but they wanted locals who would stay in the community.  The deed restrictions are an unintended consequence that I hope these two cities will agree to resolve.  These houses were built in 2004 and many are in need of repairs like a new roof.  But with the restrictions on the homes, the owners can't get a line-of-credit or refinance.  

Please note that this blog reflects my personal opinion and may or may not reflect the opinion of Hands To Help Seniors and the individual members comprising the Board of Governors.