As we age so do our homes. The majority of seniors who are living independently in private real estate are living in homes that tend to be older than usual. Limited funds and declining health contributes to a rapidly deteriorating house. There are options to consider when rehabbing your home becomes a necessity.
“There are a number of programs available that can help seniors with home repairs and improvement projects for aging-in-place, but what’s available to your dad will depend on his financial situation and where he lives. Here are some different options to explore.
Medicaid waivers: If your dad is low-income and eligible for Medicaid, most states have Medicaid Home and Community Based Services waivers that provide financial assistance to help seniors avoid nursing homes and remain living at home. Many of the waivers pay for home modifications to increase a person’s ability to live independently. Each state has different waivers with different eligibility requirements and benefits. Contact your Medicaid office for more information.
State and local programs: Some states and local governments have financial assistance programs, often called “nursing home diversion programs,” or “deferred payment loans” that are not funded by Medicaid. These programs, which may include grants or loans or a combination, helps pay for modifications that enable low to moderate income elderly and disabled to remain living at home. Modifications covered typically include accessibility improvements like wheelchair ramps, handrails and grab bars. And some may be used for home improvements like roofing, heating and cooling, insulation, weather-stripping and storm windows.
To find out if there’s a program in your dad’s area, contact the city or county housing authority, the local Area Aging Agency (call 800-677-1116 for contact information) or the state housing finance agency.
Federal programs: The Department of Housing and Urban Development offers HUD Home Improvement Loans, which are HUD insured loans made by private lenders for home improvement and building projects. Contact a HUD approved counseling agency in your area (call 800-569-4287) to learn more.”
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