(FORT PIERCE, Fla.)- With home prices declining and rents rising in most cities, retirees may feel stuck in their homes, unable to downsize but also unable to afford to go anywhere else.
This as some homeowners, who are facing financial struggles under the current economic crisis caused by the coronavirus pandemic, are considering a reverse mortgage to supplement their income.
Florida Rural Legal Services, Inc. (FRLS) has teamed up with the City of Fort Pierce Grants Administration Division to provide information about the rehabilitation grant, the home purchase grant, and resources for elderly homeowners in the next worksop in a series of Housing Workshops. The third Housing Workshop will be held on October 20th at the River Walk Center at 5:30 p.m. The workshop is free and open to the public. No registration is required.
"There's help for elderly homeowners over 62,” said Denise Sawyer, marketing and communications director for FRLS. “Reverse mortgages, which can serve as a financial lifeline for elderly homeowners, saw a surge in popularity during the last financial crisis from 2007-2009. Our experts plan to provide resources to elder homeowners in Fort Pierce to inform them of your housing options in today’s market.”
The Section 504 Home Repair program, this provides loans to very-low-income homeowners to repair, improve or modernize their homes or grants to elderly very-low-income homeowners to remove health and safety hazards.
The City of Fort Pierce recognizes the need for rapid rehousing, community education, and outreach on eviction prevention, including knowledge of the homebuying process and comprehensive legal services. Every month, housing workshops will be tailored to a specific topic and will feature helpful information, trainings, and opportunities to speak specialist in the field.
The future dates for the 2022 Housing Workshops are as follows:
- Thursday, October 20, 2022 @5:30pm – Housing Workshop
- Thursday, November 10, 2022 @5:30pm – Affordable Housing Workshop
- Thursday, December 15, 2022 @5:30pm – Housing Fair/Resources
FRLS is certain that our efforts to collaborate with valued partners and funders to bridge the gap in access to free civil legal services will fill the services needed most during these critical times.
Banner photo credit: Tom Rumble