We all need a place to stay, right? Keeping a roof over your head is something that people are really concerned with these days, especially since a significant number of people have lost their homes the past two years. Seniors are particularly vulnerable since they live of a fixed income. Many seniors have been forced to mortgage their homes again or work retirement jobs just to keep their homes.
If you are a senior that’s trying to keep his or her home or looking for a low-cost place to rent, this article will offer some ideas. Keep in mind that you should always look at different options to see what you can find on your own.
The first question people ask is if there are some government assistance programs available. In fact, there are, but these programs are limited in scope. We don’t recommend you pursue these programs with the expectation of actually getting government assistance – the assistance is quite limited and it’s difficult to qualify. Nevertheless, here are some of the programs.
Rural Housing loans
The government does provide rural Americans with some homeownership opportunities as well as funding for home renovation and home repairs. The Housing and Community Facilities Program also makes available financing specifically to seniors, disabled people, or rural low-income residents to help them make rent payments. For more information about this program, you should contact the government Rural Development website.
Housing Choice Vouchers (HCV’s)
HCV’s are special vouchers given to qualified families and individuals who are classified as low income. These vouches provide rent subsidy assistance for government approved housing. Keep in mind that it’s not exactly easy to qualify for said program, but it’s a possibility.
Rural Rental Help
The government does provide low-cost rental unites to seniors and other low-income families. The rents are significantly lower than you might find on the public market. For more information, you should visist http://rdmfhrentals.sc.egov.usda.gov/RDMFHRentals/mfh_state_text?srch=N&home=NO
These are a popular program that quite a few seniors have been pursuing. However, with the crash of property value the past 2 years, reverse mortgages are not as popular, mainly because home equity has fallen substantially. The premise is that if your home has some sort of equity, you can take out a loan against that equity to help with living expenses. For many seniors without a home, reverse mortgages are simply not an option, however.
Senior Homestead Care
One issue that’s an issue for seniors is home care. At some point, it’s simply not possible for a senior to live alone, unattended. This could be because of age or health reasons. Now one option is to live in an senior care facility. However, many seniors find it’s more comfortable to live at home. This is possible through senior assisted living. You can find plenty of local senior care workers that can do full time or part time senior care. We recommend this service if you want to find affordable homestead care.
Meals On Wheels
If you are a senior that can’t afford to buy food, you might want to consider looking at some of the private senior hunger programs. Mealsonwheels is perhaps the most popular program. This program aims to provide free food to seniors experiencing extreme financial problems.
As you can see, there are quite a few housing assistance programs for seniors out there to pursue. You may turn up more information online if you do your own search for senior help, however. Keep in mind that government programs are prone to change – so keep an eye out for new or changing programs. You might also want to explore what you can find in the private sector – there are many private organizations that offer help for seniors.