limited equity condominium
limited equity condominiumGovernment-subsidized homeownership of condominiums. Lowincome consumers are allowed to buy such condos at below-market prices with little or no down payment and very low interest rate financing.When ready to sell, they must sell to other qualified low-income consumers, at a predetermined price that takes into account general inflation, but not rapidly increasing real estate prices in the area
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.