Evansville offers housing rehabilitation program

Recently, the city council of Evansville has announced great news for low-income homeowners seeking assistance to carry out repairs on their homes. Thanks to the Rehabilitation Program, residents will now have access to official resources to execute the necessary repairs for their homes.

Evansville, like many cities in the United States, has been affected by the high costs of housing and the significant increases in repair expenses in recent years.

To provide assistance to all residents affected by these issues, the administration has implemented, through the Department of Metropolitan Development, an aid program that will provide up to $25,000 for eligible beneficiaries to carry out all necessary repairs within their homes.

In addition to focusing on low-income individuals who lack the financial capacity to execute home repairs, the program also welcomes developers or real estate promoters working within the city of Evansville.

The administration aims, with the granting of these funds, to strengthen the areas where families reside and spend most of their time, revitalizing the spaces where they have chosen to build a family and raise the future population of the city. For this reason, they consider these funds an important aid in property investment that enhances the real estate market, as well as the development of new affordable housing, which ultimately improves the city’s economy.

The Evansville housing rehabilitation program works with public funds that will be managed as loans. Individuals who qualify as beneficiaries of this public measure may apply for debt forgiveness after five years of continuous residence in the property that benefited from the aid and after receiving the funds.

Homeowners wishing to participate must fill out an application, which is available year-round, and meet some specific requirements to qualify for the program.

It is important to remember that although the administration knows in advance that it does not have sufficient resources to cover the needs of all residents, these funds are limited and will be awarded in the order the applications are received.

Among the main specific requirements to qualify for the Evansville housing rehabilitation program, besides being a low-income resident, the applicant must have occupied their primary residence for at least one year and not intend to rent or sell it.

Other requirements that must be met include: 

• The home must be insured.
• Living within the city limits of Evansville 
• Being up to date with mortgage payments 
• Providing proof of property taxes 
• Meeting HUD income guidelines

Available foreclosures:

Evansville: 12 homes available.

By Elías DaSilva | 23 de octubre de 2024.