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Philadelphia Loan Program Supports Home Repair

Philadelphia preserves affordable housing by investing $40 million into a new Housing Preservation Loan Program that will provide low interest loans of as much as $25,000 to fix up aging homes.
January 19, 2018, 9am PST | [email protected]
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Eli Pousson

"Starting this summer, the city is launching a low-interest loan program that aims to give homeowners as much as $25,000 to fix up their aging homes," reports Caitlin McCabe.

"The initiative — born out of city legislation passed in 2016 and called the Housing Preservation Loan Program — aims to give residents who have struggled to get loans a new chance at borrowing. For years, homeowners who had less-than-perfect credit scores — and who were not eligible for city grants — were forced to sideline major repairs, worsening their home’s problems."

More information is reported in the source article.

Full Story:
Published on Thursday, January 18, 2018 in The Philadelphia Inquirer
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