Home repair grants is a type of grant given to families who are economically deprived to enable them to make repair or improvements to their building of residence.These are grants given to elderly citizens to enable them to live in a safe and secure environment by removing unwanted hazards from their homes and other obstructions which might pose grave risk in the long run.These grants are normally given to people over the age of 62 years. who cannot afford funding from normal loans because of the high interest levied on them.The eligibility criteria for the receival of these grants are-
1.The person should be national of United States and also he must have a permanent place of residence. 2.Should meet all the legal criterias needed to receive the grant.
3.Should have a good record of repaying of loans in the past.
4.Should be living below the low income line.
5.The person should be in a job with sufficient earning which would enable him to repay the grant.
6.Should be the sole owner of the property on which he is currently living in.
A building or a dwelling usually has a number of projections built into them which is otherwise normal but for elderly people it may pose grave danger as they may slip or trip over them hurting themselves which might even prove to be fatal.Repair grants are used for the purpose of removing these obstructions such as heating ,electrical and plumbing systems and also disposal of water and waste.On top of this they are also used for installing insulation,screens which would further improve the living conditions.
Home improvements also includes modernising of a building so that it is in sync with the current times and the inclusiong of additional rooms,remodelling an existing room.In order to do this the person who has taken funding from the grant must be the current owner of the building and should not be a tenant or somebody who has rented the building. A home repair grant cannot be used for the purpose of constructing a new building, improper repair of a dwelling with the safety hazards still in place and making improvements to places not within the property concerned and the moving of a mobile home.The receiver of a grant cannot misuse the funding for making ellaborate design change or appearance related changes to the building.If the person who applies for a repair grant happens to sell the property within three years of issuing of the grant,then the finance given as per the grant would be converted to a loan and would have to be repaid in full.…