Photo courtesy of Better
Housing for Tompkins County
When homeowners do not have the knowledge, skill, or funds to
make household repairs, the quality and safety of the housing
declines and the costs of living in the house go up. For example,
if a house is poorly insulated, has a leaky roof, or drafty windows,
the homeowner must pay more to heat the house. Communities can
establish revolving loan repair funds to help homeowners to make
the necessary repairs to their home.
Two local examples of such programs are: 1) Better
Housing for Tompkins County's small revolving loan fund, which
helps clients finance purchases of materials and offers (to seniors
or those under 60 and disabled) free or minimal cost skilled labor
to make the repair; and 2) Ithaca
Neighborhood Housing Services' low-interest loan program,
which provides up to $50,000 to make repairs and renovations.