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Housing RehabilitationProgram OverviewThe 2007 Housing Rehabilitation Loan Program offers 15-year, 0%, deferred, forgivable mortgages to income-eligible year-round residents of Wellfleet and Provincetown. This means that no repayment is required unless CDC mortgage recipients sell their homes in less than 15 years or transfer the mortgaged property to others than direct family heirs. These mortgages are for owner-occupiers of single-family dwellings in the two towns. Mortgages funds are to be used to address code, safety and health repairs and upgrades. Income eligibility is determined by guidelines set by the federal government according to household size; limits allowed reflect the combined incomes of all adults living in a household. The loan program is funded by a Small Cities Grant from the Massachusetts Department of Housing and Community Development. The grant was obtained by the Town of Wellfleet as part of the Wellfleet Regional Housing Rehabilitation Loan Program. How the Program WorksOur Rehab Loan Program Manager, Wendy Palliser, oversees each eligible rehab project from start to finish. Wendy works through the process with each homeowner and local licensed contractors – from application, to the initial work write-up and the mortgage closing, through to completion and sign off on the work. Upon approval and acceptance into the program, Wendy will accompany a Licensed Rehab Specialist on a visit to your home to review code, safety and health conditions and prepare a work write-up for essential repairs and upgrades. Work specifications are sent out for bid to three licensed contractors known to the CDC. The homeowner may choose which of the three contractors to use, but it is the lowest of the bids received that the mortgage funds will cover. Meanwhile, the necessary papers for the mortgage agreement will be drawn up in preparation for a closing, which takes place at the CDC’s offices in North Eastham. Click here for a pre-application form with program guidelines. Read it carefully to determine if you meet the terms. If so, complete and mail the form to Wendy Palliser, Program Manager, Lower Cape Cod CDC, at PO Box 1860, No.Eastham MA 02651. Wendy will then contact you by phone to help you decide if you want to make full application with required documentation, and she will lead you through that process. Note please: because of the large number of inquiries, Wendy cannot answer questions from first-time callers unless she has received your completed pre-appplication form. Page last updated: March 31, 2008 |
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Lower Cape Cod Community Development Corporation P.O. Box 1860 Main Street Mercantile North Eastham, MA 02651 (800) 220-6202 |
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