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"Seniors' Home Adaptation and Repair Act "

Seniors' Home Adaptation and Repair Act

The Seniors' Home Adaptation and Repair Act gives authority to the Minister of Seniors and Housing to provide low-interest home equity loans to help seniors finance necessary repairs, adaptations and renovations to their homes. A maximum loan of $40,000 is available to seniors and senior couples with an annual total income of $75,000 or less and who have a minimum of 25 per cent home equity in their primary residence. If it is determined that a senior is ineligible for a loan, the Act authorizes the Minister to consider the applicant for a grant to help cover some basic and essential home repairs.
 
    Chapter/Regulation: S-7.1 2016
    Status: Office Consolidation
    Ministry Responsible: Seniors and Housing
    Current to 12/15/2017
    Item/ISBN#: 9780779800698
    Pages 11
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Following are the associated Regulations for the Seniors' Home Adaptation and Repair Act ...

Seniors' Home Adaptation and Repair Regulation

Under the authority of the Seniors’ Home Adaptation and Repair Act, the Seniors’ Home Adaptation and Repair Regulation, will support the Minister in providing low-interest home equity loans to eligible seniors. Specifically, this regulation sets forth the terms and conditions of both the loan and grant program, including the application process, loan requirements, and eligibility requirements.
 
    Chapter/Regulation: 107/2016
    Status: Current
    Related Act
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