A SHELTERFORCE magazine article entitled “Helping At-Risk Homeowners Stay Put With a Land Trust,” recently shed light on the plight of older homeowners with low and moderate incomes who are at risk of losing their home due to a medical crisis, divorce, or unexpected repair costs.
“According to experts, the United States is about to face a giant wave of aging baby boomers who are hoping to remain in their houses as they age, but who are often one outstanding tax bill or major repair away from losing their homes altogether,” writes Amanda Abrams.
Several innovative programs may present a solution to the problem, although questions remain about their sustainability, says the article.
The Community Aging in Place—Advancing Better Living for Elders (CAPABLE) initiative, run by the Johns Hopkins School of Nursing, sends a nurse, an occupational therapist, and a handyman to modify and improve the home environment of low-income seniors who want to age in place.
Through another program, called Project Sustained Legacy, the City of Lakes Community Land Trust in Minneapolis takes over the deed to land belonging to an existing homeowner. In return, City of Lakes addresses outstanding tax liens, mortgage payments, and deferred maintenance.
“There are big subgroups of folks who are housing poor or housing burdened,” LTSS Center Co-Director Robyn Stone told the magazine. “I don’t want to be too dramatic, but we could see the day when large swaths of elderly people literally have nowhere to go. Where is the investment for this going to come from?”