Colorado Association of Realtors Housing Opportunity FoundationREALTORS ® care about people's ability to achieve the American dream of ownership.That's why CARHOF is the heart of the Colorado Association of REALTORS ®. IRES would like to applaud the efforts of CARHOF and participating offices and banks. The CARHOF logo (a heart) appears on our office roster next to the name of participating offices. What is CARHOF? In 1990, the Colorado Association of REALTORS Housing Opportunity Foundation, CARHOF for short, was created. Interest earned from the broker's escrow account is collected and distributed to promote affordable housing. Each year, from $300,000 - $500,000 is collected for CARHOF. To view their web site, click here. How it Works: When a home buyer pays the earnest money for a house, participating brokers deposit the funds into an interest bearing escrow account. Interest earned is set aside for CARHOF. Seventy percent of the income goes back to the local community (!). Fifteen percent is ear marked for special projects and disaster relief. Only 15% is retained for administration. Who does CARHOF support? Organizations receiving CARHOF funds must be based in Colorado, have a housing-related mission and be a nonprofit or public agency. Examples include Habitat for Humanity, Crisis Shelters, Home Ownership Counseling, Affordable Housing Projects, Down Payment Assistance and Disaster Relief. Requests for funds are made by the local REALTOR Associations. If interested, you can find out more from each Board or Association: Boulder Area REALTOR® Association Fort Collins Board of REALTORS® Greeley Area REALTOR® Association Longmont Association of REALTORS® Loveland/Berthoud Association of REALTORS® Morgan County Board of REALTORS® |
|
CARHOF |