Millions of People Qualify for $4,000 RebateDecember 08, 2017
When you consider the rate at which inflation is still on the rise, job seekers keep hunting for ever elusive employment and families barely survive, you may wonder whether the sub-prime mortgage crisis of 2008 was actually solved. Given the hard economic times, many homeowners are tempted to shelve home repairs for later. Unfortunately, things are only bound to worsen when properties deteriorate.
If you are a homeowner who finds it difficult to make ends meet and you do not know how to make the necessary improvements in your home, do not lose hope. The following programs can help you qualify for a rebate worth up to $4,000.
Dealing with Tough Times
Your home structure may already be carrying a lot of burden depending on your circumstances. Your elderly parents and college graduate may be living with you because of the challenging economic times, not to mention that you also have other concerns in the same hard times.
Apart from carrying out some necessary home repairs and general maintenance, you may need to add space to accommodate all the people living with you. You may be considering replacing some things in the home to reduce your budget in the long run, such as energy-saving equipment. Apart from replacing existing appliances, you may consider installing new ones, such as a home security system so that your family can sleep peacefully. If you are still a young couple, you may have to consider a new member of your family.
No matter how stretched your budget may be, you should not postpone necessary repairs. If you neglect your roof until it starts leaking, for instance, you will be forced to spend more to repair it.
Banks may sweet-talk you into taking a loan, and you may have a great relationship when you are making regular repayments. However, you may discover that you turn into a great enemy overnight when you miss even a single repayment. You will have to pay what you already owe (including interest, of course) plus fine for defaulting, and you are likely to receive “courtesy calls” at the most inappropriate times.
Prohibitive Interest Rates
Many homeowners with mortgages are not eligible for the HELOC or home equity line of credit. Many of those who qualify are put off by the high rates of interest. Personal loans do not suit those with high student or credit card debt because the high interest rates would counter the benefits of their loans.
Does this mean that the situation is hopeless?
The US government has put various measures to help you out of your predicament. Improving your home will not just benefit you, and the politicians are aware of this fact.
Improving your home will increase its value, which will in turn benefit property taxes. You will hire people to carry out the necessary improvements and increase employment in the process. A conducive environment will not only make your family happy but also more productive.
Home improvement is a win+win+win undertaking.
Any loan that you take against your home is considered to be secured because the home itself is the collateral. Since you are applying for a secured loan, you will get a relatively low interest rate. With cash-out financing, you are likely to get more money than you need for home repairs, giving you the opportunity to fulfill other financial obligations.
The American government offers loans with low interest rates, thanks to its size. Since the government understands the value of improving your home, you are likely to qualify for one of the following programs.
It is estimated that about 700,000 Americans are qualified to receive the rebates, but many of these people have not used the opportunity. It is important to understand that you can qualify for the savings even if you refinanced recently.
You do not need to pay anything to qualify for the government programs. Different brokers avail the programs, which you can freely review without any obligation to accept them.
The government understands the importance of home improvement, but you must do your part as a responsible homeowner. You have the home that needs improvement and Uncle Sam provides the money to improve it.
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