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HomeMy WebLinkAboutZurich Citizens News, 1974-10-10, Page 15PAGE 16 ZURICH CITIZENS NEWS THURSDAY, OCTOBER 10, 1974 How to qualify for repair loan How does a homeowner with a run-down house take advant- age of the Ontario Home Renew al Plan (OHRP), which provides loans for repairs'? The process is simple, since the owner deals only with his local City Hall. Details of the low-interest loan program for repairing bel- ow -standard houses were ann- ounced Thursday (Sept. 19) and they work like this: Applicants must own the houses they live in, and those homes must be below local housing standards. The owner - occupants must earn $12, 500 a year or less and the repairs needed must be for exterior or structural work or for fixing faulty plumbing, electrical or heating systems. It doesn't cover such "extras" as building garages or installing second bathrooms. Interest on the loans is work- ed out on a sliding scale. Families with an income of $3, 000 or less don't pay any interest at all, and the largest interest is eight per cent for those earning between $S, 001 and $12,500. The maximum loan is $7, 500, with up to 20 years to repay. The entire loan need not by paid back; a "forgiveable" portion is also calculated on a sliding scale based on income and to "earn" it the owner must continue to live in the house for a specified number of years after the repair work has been completed. Local municipal offices have PARKING HEADACHES Parking usually presents three problems: finding a place, getting in and gettingout. It's this last point that many of us overlook, suggests the Ontario Safety League. When you park that vehicle, ask yourself if you're going to have any prob- lems getting out. If you drive into an alley, park and try to back out, you're asking for trouble. If you park too close to a busy corner, or a traffic signal, you may not find any- one who will let you pull out into the stream of traffic. the details. The procedure works as follows: Once an owner -occupant feels he meets the above cond- itions, he talks to the people at his municipal office and fills out an application. An inspect- or will likely visit, advise on construction methods and rev- iew other details of the propos- ed repair work. The owner then gets quotat- ions from contractors and sub- mits them to the municipality. (The owner and his friends can do the work themselves and be paid for materials and labor, provided the result will be of porfessional calibre and meet building standards). The municipal clerk meets with the homeowner and, if everything checks out, draws up the loan contract. This will include having assurance of the borrower's financial responsib- ility, arranging a lien on the house as collateral, establishing theinterest rate, terms of the forgiveable portion and the repayment schedule. (An exist- ing mortgage on a house is not a barrier toward obtaining an OHRP loan, provided the added burden in payments can be afforded.) The work is then carried out by the contractors; as it prog- resses, the municipality carries out inspections to assure that it's being done properly. The loan funds are paid out as phase of the work are completed. The loan, principal and int- erest is then repaid to the mun- icipality in instalments, usually monthly, as agreed in the loan contract, If the house is sold before the loan is fully repaid, the forgiveable amount is prop- ortionately reduced. When sold, any amount owing on the prin- cipal, interest and unearned forgiveable portion must be paid off in one lump sum. Would you be eligible for an OHRP loan? Here are some case histories: Mr. and Mrs. Sam Simpson are upset. Their annual income is $8, 000 and they have just been told by a local housing inspector that the wiring in their house, while adequate 30 FOR ALL YOUR STATIONERY AND OFFICE V���rG PENS Al 11 SUPPLIES ?) uef, VISIT THE MucrO©h �ii�� l��C✓g Victoria Street ZURICH 236-4672 years ago when the house was built, is now below standard and dangerous when used with many of today's appliances. The Simpsons must have the rapairs done, but can't afford them at today's interest r ates. Will they be eligible for aid under OHRP when their city receives provincial funds under the program? Yes they will. Or take Mrs. Anne Jones, 65, a widow supporting herself by old age and war widow's pensions. She recently moved into a dilapidated cottage in a small Ontario town and needs money quickly to meet the costs of repairing her bathroom and kitchen plumbing. The tows does not have any health and safety standards., Is Mrs. Jones eligible? Yes, provided that the town adopts standards of building maintenance, health, safety and sanitation and then partic- ipates in the OHRP Program -- and that the plumbing in Mrs. Jones' house is found to be bel- ow those standards. Matt Shrier is a bachelor who owns a triplex in downtown London, Ontario, a city taking part in OHRP. Shrier lives in a self-contained apartment in the basement and rents the remain- ing two floors. The building needs work, especially on the exterior facade andin the plumb, ing of his apartment. His inc- ome, including the rent he collects, is $12, 400. Does he qualify for OHRP assistance? He does, but only for that repair work within his own apartment. Thus he could bor- row through OHRP for his plumb• ing, but not for the exterior work. A final case history: Mrs. Sharon Campbell owns two houses. The one in which she lives is in good order, but the other is 40 years old and one wall is caving in. She is in danger of losing her tenants if she does not act promptly, Does she qualify" No, because she does not live in the house on which she seeks to do repair work. Further details are available from the municipal clerk's office, including whether or not your municipality is taking advantage of OHRP. For homeowners in unorgan- ized municipalities, inform- ation can be obtained from the Community Renewal Branch, Ministry of Housing, 801 Bay St., Toronto, RO Custom Built Homes Commercial Buildings a uale9liug Renev 411<:'n *Sidig RR 3 SAYFIILD 25 YEARS EXPERIENCE IN ALL KINDS OF CONSTRUCTION ER C{'I NSTRUCT1ON N ,!.1 '1 Ith.., 565-2 3 ENTION RENTS OF BOYS 8 TO 10 ¥EARS OF AGE THE ZURICH FIRST CUB PACK sponsored by the ZURICH LIONS CLUB Will Be Meeting Thursday Nights 7 to 8:30 p.m. AT THE ZURICH PUBLIC SCHOOL For further information, contact MR. DON RAWLINGS, 236-4398 Parent participation is encouraged if the Cub organization is to be effective. A COMPLETE TRADES SERVICE FOR THIS AREA a PLUMBING - HEATING - ELECTRICAL REFRIGERATION - AIR CONDITIONING ALSO APPLIANCE AND MOTOR- REPAIRS NO JOB TOO LARGE OR TOO SMALL - GIVE US A CALL I Watch For Our Grand Opening GARY'S SERVICE GARY GINGERICH - PROPRIETOR PHONE 236-4351 PHONE 236-4055 id