Elderly Homeowners

Reverse Mortgages For Seniors

Called Reserve Mortgages For Seniors and referred to as Program #14.183 in the Catalog of Federal Domestic Assistance, this program enables elderly homeowners, 62 years of age or older, to convert equity in their homes to monthly streams of income – except for Texas – lines of credit. HUD insures lenders against loss on reverse mortgage loans. Contact your local office of the U.S. Department of Housing and Urban Development. Look on the left-hand side of the page to search for your local field office.

Visit: www5.hud.gov:63001/po/i/netlocator/

75000 for Urgent Home Repair

Funding available under the Urgent Repair Program provides grants for emergency home repairs and modifications to homes of elderly homeowners and other homeowners with special needs whose household incomes do not exceed 50% of the area median. Eligible organizations may request up to $75,000. For a listing of eligible organizations, contact the North Carolina Housing Finance Agency.

Visit: www.nchfa.com.