Wednesday, 25 October 2017

Dc Fawcett Real Estate – Housing loans and special privileges for disabled investors

Home ownership is a dream for every investor and the purchasing power differs from each person depending on the financial status. There is a community of real estate investors with disabilities who are offered certain privileges; DC Fawcett has written a review about how to get home ownership if the person is either mentally or physically challenged. In this article, you will find the financing strategies provided to disabled investors.


Dc Fawcett Real Estate – Housing loans and special privileges for disabled investors


he federal government offers certain special schemes and loans for these people to make their home ownership dream come true.
  • There is a rule that landlords cannot deny selling or renting their homes to disabled people nor set special rules and regulations. All must be treated equally like a regular tenant. They cannot disqualify them as non-potential buyer.
  • People with disabilities may request changes in policies, practices, and services so they are able to access, use, and enjoy equal access to housing.
  • Landlords and housing providers should fulfill the requests of the buyers at all stages of the housing process and they have all the rights to ask for structural modifications that will provide them comfort.
  • They can depend upon the Office of Fair Housing and Equal Opportunity (FHEO), which was started to protect the rights of all home buyers and individuals.
  • The Equal Credit Opportunity Act and Consumer Credit Protection Act is to make sure that financial institutions offer money to all the investors irrespective of sex and no discrimination is made based on person’s abilities.

Financing for disabled

The money is borrowed from a mortgage lender, bank, or credit union after an initial down payment is made by the borrower to purchase a property.
  • The mortgage lender should not restrain him from lending money if the borrower is disabled.
  • There are governing bodies who have framed guidelines that protect the rights of the disabled people; in case the lender denies in providing mortgage; the investor can seek the court and claim his rights.

Programs for Home Buyers with Disabilities

  • Homeownership Voucher Program

HUD offers money for disabled investors and ensures that their monthly payments are made on time as well as mortgage loans are sanctioned without any problem. The HUD counselors help out in this program and make necessary arrangements to fulfill the requests of the investor.
  • Supplemental Security Income

The Social Security Administration started this program to help old people who are above 65 years old and disabled people. The maximum term for the ownership is 10 years; they take care of all the basic needs of the investor.
  • Federal Programs

Special grants are provided exclusively for veterans with disabilities. This program has been framed based on the income of the investor.
  • The USDA offers financial assistance for elderly, disabled, and low-income community investors residing in multi-unit apartments. This program ensures that these individuals can make their rent payments on time.
  • FHA loans are provided by the federal government which is preferable by the investors as they are scam
To know more about home ownership, housing loan schemes and other privileges for disabled people, check out the articles in virtual real estate investing club written by DC Fawcett who has been a guiding force for all the investors.

0 comments:

Post a Comment