West Tisbury selectmen said this week that they plan to redraft the town’s affordable housing ownership covenants to avoid recurrence of the foreclosed affordable home that has the town in court with a West Coast lender.
Questioned at the weekly selectmen’s meeting about the current situation involving a Scrubby Neck Road affordable home, selectman Glenn Hearn said the town could not have predicted the problem.
“We change the covenants as we learn more. We have updated them several times. This was an early one. No one could have predicted this situation,” Mr. Hearn said.
The town is suing Saxon, a subprime lender, to reinstate the covenants on the home formerly owned by Shawn Cote.
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