Seniors Home Improvement

Seniors Home Improvement


THROUGH IT ALL AND TIME IT ALL OUT COMING UP IN YOUR FULL FORECAST. ELISE, THANK YOU. IT’S BEING LABELED AS VIRTUALLY FREE MONEY FOR SENIORS WHO CAN’T AFFORD FIXING UP THATTER THEIR HOMES. INTEREST FREE — UP THEIR HOMES. INTEREST FREE HOMES. Reporter: THEY CELEBRATED THE MAKEOVER OF TOM AND JOYCE FOX’S HOME THAT’S NEARLY 100 YEARS OLD. THE HOUSE WAS BUILT IN 1926 AND WAS THE ORIGINAL CEDAR ON THE HOUSE WITH HOLES IN THEM ALL OVER. NOW IT’S BEAUTIFUL! LOOKS LIKE A BRAND NEW HOUSE! THIS OLD PICTURE SHOWS THE FADED SHINGLES BEFORE THE REPAIRS. BUT NOW THERE’S ALL NEW SIDING, NEW GUTTERS AND DOWNSTAIRS ACHES NEW FURNACE CONVERTING OIL TO NATURAL GAS. ALL DONE WITH AN $18,000 FEDERAL LOAN THE FOXES SAY THEY HAVE NO IMMEDIATE PLANS TO PAY BACK. IT DOESN’T HAVE TO BE REPAID UNTIL THE HOUSE IS SOLD OR — OR WE DIE. OR WE DIE. [ LAUGHTER ] IN MANY RESPECTS, IT’S A POT OF ALL VIRTUALLY FREE MONEY OUT THERE FOR SENIORS TO MAKE REPAIRS ON THEIR HOMES. Reporter: HOMESTEAD SUPERVISOR ANTHONY STANTINO SAYS THEY’VE RECEIVED THE GRANT AT A LITTLE KNOWN PROGRAM FIXED ON HELPING SENIORS FROM SELLING THEIR HOMES. THE INTEREST FREE LOANS MUST ONLY BE REPAID IF THE SENIOR SELLS OR WHOEVER INHERITS THE HOME. NEIGHBORS ARE THRILLED FOR THE OVERALL LOOK, SAYING IT’S GOOD FOR THEM. THE HOUSE IS MORE SELLABLE AND EVERYTHING AND MY PROPERTY VALUE GOES UP, TOO. Reporter: TOWN OFFICIALS SAY THEY HAVE ENOUGH FEDERAL MONEY TO GRANT INTEREST-FREE LOANS TO AS MANY AS 50 SENIORS. THE FOXES SAY THEIR HOME HAS BECOME QUITE POPULAR. OUR FRIENDS AND FAMILY WHO COME FOR BARBECUES AND EVERYTHING, THEY PASS THE HOUSE BY BECAUSE THEY DON’T RECOGNIZE IT. Reporter: HOMEOWNERS CAN APPLY TO HOMESTEAD FOR THE HOMES. THE HOMEOWNERS MUST BE AT LEAST 62 YEARS OLD AND THE LOANS ARE LIMITED TO SENIORS MAKING LESS THAN $61,000 A YEAR. THE SENIORS WITH LARGE FAMILIES

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