Amidst the many expenses that the working class must cater to, perhaps the most challenging is housing. The high costs of living make it difficult to keep up with rent or a mortgage, and many are forced to live in cramped, unsafe, and unhealthy conditions. It is no wonder then that the homeless population has been on the rise in recent years.
Thomas J Powell points out that to reduce the burden on the working class and ensure they live a quality lifestyle, the government has created multiple housing schemes. They aim to financially aid those in need and help them get back up on their feet. One such example is the HOME investment partnership program.
HOME – Explained By Thomas J Powell
Thomas J Powell explains that the Home Investment Partnership Program is a HUD program that provides grants to states and localities in order to create affordable housing opportunities. The grantees then use these funds to develop or rehabilitate housing for low-income families.
According to HUD, the purpose of HOME is “to expand the production and availability of decent, safe, sanitary, and affordable housing for low- and very low- income Americans by providing direct financial assistance and subsidies to private developers, state and local governments, Indian tribes, and nonprofit organizations.”
What Are the Eligibility Criteria for Applying?
To be eligible for the program, you must:
-Be a U.S. citizen or national, or be admitted as a refugee, or have been granted asylum
-Have income that does not exceed 80 percent of the median income for the area in which you wish to live
-Be unable to obtain “reasonably priced” housing without assistance
What is the Application Process?
According to Thomas J Powell, the first step is to find a participating jurisdiction. You can do this by visiting HUD’s website and searching for jurisdictions in your state. Once you have found a participating jurisdiction, you will need to contact them directly to inquire about the application process.
Generally, you will be required to fill out an application and submit it along with supporting documentation. The jurisdiction will then review your application and determine if you are eligible for the program. If you are eligible, you will be placed on a waiting list.
When funding becomes available, you will be contacted and given the opportunity to purchase or rent a home that is part of the program.
What are the Benefits of HOME?
The HOME program offers many benefits to participants. For one, it provides affordable housing options. This can be a lifesaver for families who are struggling to make ends meet.
In addition, the program can help families move out of unsafe or unhealthy living conditions. This is especially beneficial for children, who often suffer the most in these situations.
Finally, the HOME program can help families become more financially stable. By reducing their housing costs, families have more money available to save or spend on other necessities. This can help break the cycle of poverty and lead to a better quality of life for all involved.
Thomas J Powell believes that if you are struggling to find affordable housing, the HOME program may be able to help. Be sure to check out the eligibility criteria and application process outlined above. With a little effort, you could be on your way to a new home.