Low Income Housing Program
The USA is one of the world's most developed countries and this is largely due to the Low Income Housing Program (LHIP). This is a special program created to provide housing for low-income senior citizens and the handicapped. The housing comes in various forms. Some of them are modular homes. These can be easily moved from one location to another. Some others provide for a specific room or rooms and are permanently installed.
Modular homes can be either rent to own or with a rent to buy option. The rent to own option provides the senior citizen with the right to rent back the modular home as an investment. If the senior member of the family dies, then the family gets the right to buy the home back at the end of the lease period. It also allows them to use the funds accumulated in the rent to buy scheme to purchase an ordinary home, which they can use as their new home. In case they get sick or remain seriously ill they are eligible for long-term Medicaid or Medicare benefits.
There are various organizations that are involved in providing housing for senior citizens. The federal government is also a major player in this field. They have established the Federal Home Loan Program (FHLP) and the Federal Housing Administration (FHA) to provide elderly and handicapped persons with housing loans. The FHA is a federal government agency which offers a houseguarding system for qualified applicants who need assistance to find apartments.
Apart from the FHA and HUD there are a few other non-profit organization that provide accommodation facilities for the elderly and the handicapped. Among these are the State Housing and Urban Development (HUD), which is responsible for providing low-income and multi-family dwellings and other related services to the needy. There are also a number of tenant rent-to-own programs that the federal government has started. Under such programs the resident can own their house at an increased price. These are called vouchers and are only accessible by the tenants themselves.
The federal government also has a section 811 program that provides for the development of affordable housing for the disabled. Section 811 deals with the rental, repair and maintenance of homes for the disabled. It is mostly provided through state agencies. Tenants and homeowners alike can register with such a program. The disabled can receive financial assistance from the federal government to buy a house or to pay for repairs. The department of Housing and Urban Development manages the section and has special financial programs for low-income families, senior citizens, the handicapped, disabled children and renters.
Apart from these, there are also many other financial programs and initiatives by the federal government that you can avail for ensuring that you get an affordable and decent house for yourself or your loved ones. Low income housing program is just one of them. There are many more like the HAMP (Home Affordable Modification Program) and Fannie Mae Homepath (for first time homebuyers) which you can look up on the web.
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