Everything is getting more expensive, including electricity, gas and other monthly utilities. Whether you own or rent, you can take advantage of these cost-cutting resources.
Are you seeking relief from the escalating costs of utilities? Are you feeling stressed about the financial pressures of paying utility bills each month?
Every program has specific requirements, but you may be eligible for programs that lighten the load.
Many offerings are available to provide help homeowners manage the high costs of utilities. Some of these programs are geared towards older homeowners, who meet specific eligibility guidelines.
Check out the best resources to help you continue to live independently—with a lighter burden on your peace of mind, and your wallet.
Are you struggling with utility bills? These programs are available to older homeowners who meet the eligibility requirements.
Home Energy Assistance Program provides cash grants to eligible households to help pay a portion of home heating expenses. To get information about HEAP programs in your state, contact your State Office for the Aging.
Check with the Low-Income Home Energy Assistance Program (LIHEAP), which helps low-income households pay for energy costs. If you qualify, it could help you with updating your home with important weatherizing and energy-related repairs. If you prefer, you can contact the program by phone at 1-866-674-6327.
The Weatherization Assistance Program (WAP) could also be a place to check in with. This program helps homeowners with financial assistance to keep homes energy-efficient and weatherized.
If you are renting, you may still want to check out these programs and present this option to your landlord. He or she may not be aware of these financial assistance programs. Ultimately, participating in the program could help you and your family have a reduction from the pressures of sky-high utilities.
In addition to direct funding for utility bills, take a broader view of the problem. Perhaps some of the high utility costs stem from structural issues that could be solved with home repair and remodeling.
If you are a homeowner, is it possible that you’re holding off on repairs or updates due to costs? Some programs may be able to help you spring for the remodeling.
If you are a renter, perhaps your landlord would be amenable to exploring some of these great programs. The benefit will be to make their home safer, stronger, and more resistant to high utility bills. The benefit for you will be a lower utility bill each month.
Repairing your home makes your home safer. If you’re living in your home as you age, remodeling helps you live in your own home as long as possible.
Modifications will make it easier to stay safe. You can update your home to prevent accidents, reduce the risk of falls, and increase your ability to live an independent lifestyle.
You may find a program that provides financial assistance—helping you save money on repairs and remodeling. In the long run, repairs can lower utility bills, by reducing energy usage. You’ll save money at the outset, and long term.
The Older Americans Act provides funds for repairs and home modifications for seniors. Contact your county’s Area Agency on Aging for program details. The Agency should also be able to advise you of other local government programs, available through your city, county, or community development department.
The U.S. Department of Agriculture offers grants under the Section 504 Home Repair program. These grants assist elderly very-low-income homeowners to fix and repair health and safety hazards in their homes.
Rebuilding Together is a national non-profit devoted to helping people in need and working to revitalize communities. Their programs help people including seniors stay in their own homes. They offer programs that help with repairs and home modifications.
These upgrades may be available for you to help you stay healthy and independent in your own home.
If you’re a homeowner, you may be sweating over utility bills but not seeing the big picture of all your house expenses. Mortgage rates are at a historic low and as you’ve seen in the news, it’s a great time to explore refinancing and mortgage relief programs.
Are you looking for refinancing options? A new program called FMERR, or Freddie Mac Enhanced Relief Refinance may help you. This program is a way for homeowners to get a lower interest rate, a shorter loan term, or change from an adjustable to a fixed-rate mortgage. The good news here, there is no minimum credit score needed.
You can check your eligibility online. Plus, you can use an online service to find and contact FMERR program lenders in your state.
Since the pandemic began, most lenders have offered forbearance and loan modification options. However, recently, the White House’s home loan modifications make relief a more concrete option. Check with the Federal Housing Finance Agency, called FHFA, for an overview of program options.
The new loan modification programs rules may apply to you if you have an FHA, VA, or USDA loan. Experts recommend talking directly to your lender to find out details.
If you aren’t sure about your rights and choices, talk with a housing counselor approved by the U.S. Department of Housing and Urban Development (HUD). To locate a housing counselor in your state, check with the HUD website.
Talk with your local contractor about reduced fees to help you lower your bills. Many companies are happy to help low-income Americans, families with children, and seniors at a reduced fee, or with a sliding scale. Check with contractors when asking for bids, to see if this is a viable option.
While you’re exploring getting help from a contractor, take a walk around your home, apartment, or rental. Look for ways to lower your utility bills with practical solutions such as:
As you talk with a contractor, ask for their professional expertise. They may have insights into low-cost repairs that can significantly lower your utility bill. These may include fixing leaky ductwork, fixing leaky faucets, upgrading seals on doors and windows, and changing attic insulation.
With these tips, you can get ahead of the stress, lower your utility bills, and save money every month.
Staying in your own home is a wise move to stay healthy, active, and independent. Take the initiative to get the help you need. With help, you may be able to find resources to enjoy living comfortably in your own home—with less stress and more ease.
