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Money and Finances
Reply to "SIL with house but no money "
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[quote=Anonymous]Check into the possibility of assistance programs for home improvement. Examples: Energy assistance programs will replace furnaces, windows (install energy-efficient windows) and do other steps to improve energy efficiency for low-income homeowners with limited other assets. There are many block grant funded programs (rural and urban) which fund major repairs to maintain the habilitability of a home, bring it up to code, etc, via no-interest loans the homeowner does not have to pay back if they remain in the house a certain number of years (and are recovered via a lien if the property is sold). You can even have other assets up to limits ($10k and $30k are the limits for some federally funded programs) Communities sometime have other programs managed by non-profit organizations including builder's associations working with banks that assist low income homeowners. I would look into these possibilities before taking on roommates, since roommate income/assets usually has to be considered as part of the household and that can affect eligibility. I know people who have used these programs to replace furnaces, fix roofs, replace windows, get electrical issues fixed, etc. [/quote]
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