Mortgage News May 9, 2023
HUD has declared the allocation of approximately $15 million in fresh subsidies to facilitate home repairs that promote health and safety for financially disadvantaged seniors. The explicit objective is to empower them to age comfortably in their own homes. These funds will be divided among 13 non-profit organizations and one state government.
As stated in its declaration, HUD’s Older Adults Home Modification Program (OAHMP) will offer these subsidies, which will allow financially challenged seniors to stay in their residences. The grants will be used to implement home modifications that are low-cost, easy to access, and provide significant benefits, such as reducing the chances of falls, improving general safety, enhancing accessibility, and increasing functional abilities while at home.
The department explained that these repairs will allow older Americans to stay in their homes instead of being compelled to relocate to nursing homes or assisted living facilities if they choose not to.
Furthermore, HUD stated that these grants will have a significant impact, providing “home modification services to more than 1,900 senior families in both urban and rural communities with substantial populations.”
According to Marcia Fudge, the Secretary of HUD, enabling a higher number of qualifying seniors to decide where they want to live in their later years will have a positive impact on their quality of life.
Matthew Ammon, who is the Director of HUD’s office of lead hazard control and healthy homes, stated that these types of home repairs have additional advantages.
Ammon pointed out that there is a strong correlation between health and housing. He stated that these grants are a vital resource for communities, allowing them to implement home modifications that are tailored to the requirements of their inhabitants while being low-cost, easy to access, and offering significant benefits.
The grants will be distributed among 14 locations, seven of which are predominantly rural, and the remaining seven are classified as urbanized. The states that will receive the subsidies are California, Delaware, Georgia, Illinois, Louisiana, Minnesota, Mississippi, North Carolina, Ohio, Tennessee, and Virginia.
In August 2021, a $30 million program was announced, aiming to renovate more homes for aging in place. The funding was distributed among 32 non-profit organizations, state and local governments, and public housing authorities. The modifications included adding grab bars, railings, and adaptive equipment to enhance safety and accessibility.
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