Finding an affordable house in Greater Bangor is more difficult than some prospective buyers originally anticipated, but housing officials say there are affordable homes out there. “The vast majority of houses I’ve seen need substantial work in the first few years of owning them,” Tanya… Read More
What is affordable housing? While there is no formal definition, the general rule is that buyers should spend no more than 30 percent of their adjusted gross income on a mortgage or rent. googletag.cmd.push(function () { // Define Slot var slot_sizes = [[300,250]]; var new_slot_sizes… Read More
BAR HARBOR – The local economy has benefited plenty over the past 10 to 15 years from the rise in local property values. Houses in downtown Bar Harbor that in the early 1990s cost less than $100,000 sell now for around $250,000, despite the recent… Read More
In response to a nationwide crisis over home foreclosures, on June 11 Gov. John Baldacci signed into law a bill to crack down on predatory mortgage lending practices. The new law dictates the following: Lenders must evaluate a borrower’s ability to repay subprime loans or… Read More