For some people living in rural communities, financial hardships force difficult decisions: Do they purchase a needed medicine or pay a bill that is past due? Unfortunately, home maintenance is often not at the top of the priority list. This can lead to long-term issues, causing more financial strain in the future. Clinch-Powell has home repair programs that can help address this problem on several levels, providing necessary repairs to those in need, as well as educating them about the importance of home maintenance and providing them with tools for budgeting.
Our latest home repair program is repairing homes in Campbell, Cocke and Hancock Counties through a Tennessee Housing Development Agency program called the Appalachian Renovation Loan Program. ARLP is available for distressed and at-risk counties in East Tennessee in the form of a forgivable home repair loan. Families can receive up to $25000.00 which will be forgiven 20% per year for 5 years; as long as participants do not sell or refinance their homes during this time, no money has to be paid back. Homeowners are receiving various needed repairs including new metal roofs, gutters, energy efficient windows, heating and air units, plumbing and electrical upgrades, ramps, railings, new flooring, and siding replacement and repairs. Along with these repairs, each participant is required to complete post-purchase counseling which includes maintenance and budget counseling topics.
So far, Clinch-Powell has assisted 12 families through the ARLP, with several more in-process. The homeowners are now enjoying warmer, safer homes. This program not only helps the homeowners and their families build wealth and security in their homes, but it aids their neighbors and the area with more well-kept homes and could help to increase property values. Keep an eye on the Clinch-Powell website or Facebook page for the latest info on this!
We expect a new program very similar to this one to be available soon statewide! If you own a home in need of repairs, please fill out our online home repair program application here.