Homeowner Options For Massachusetts Elders - H.O.M.E.

Elder Homeowner Protection Since 1984...Free and totally confidential...1-800-583-5337

Home Danger Signals Highlights
Case Histories
Client Profile
Line of Credit



- Homeowner Options for Massachusetts Elders (H.O.M.E.) is a private non-profit organization dedicated to protecting the equity of low- and moderate-income elderly homeowners so they can afford to "age in place" with dignity and financial security.

Counseling Comes First - A national model for elder homeowner protection, H.O.M.E.’s foundational core is its in-depth in-home comprehensive professional counseling. Since H.O.M.E. sells no financial products, nor receives any commission for referrals, the focus of a H.O.M.E. counselor is to fulfill H.O.M.E.’s mission...conserve and protect elderly homeowner equity so the elder can extend their home tenure. As such, H.O.M.E. counselors provide assistance for elders through: Education Counseling Remainder of Life Planning Foreclosure Prevention Consumer Protection for Seniors Off Loading (Securing low-cost or no-cost public and private benefits as well as alternative resources such as fuel assistance and property tax relief)

Lending Comes Last - H.O.M.E. considers loans to be a "last resort’; used only when no other alternative is available. If and when a loan is determined to be appropriate, H.O.M.E.’s unique partnership with over 55 independent community lenders plays a key role. These lenders offer low-cost Reverse Mortgage Loans and Senior Equity Lines of Credit solely in support of H.O.M.E.’s mission. Most recently, dozens of participating lenders have adopted H.O.M.E.’s ‘10 Commitments to Elder Homeowner Protection’ including:
- Using the least costly loan when a loan is the only alternative
- Encouraging elders to use legal counsel before executing a loan
- Committing to H.O.M.E.'s multiple menu of options to fit individual needs

Select Highlights
- 27,000 elder homeowners helped
- 3,800 property refinances arranged
- $164,000,000 in non-government private loans granted
$18,300,000 in home repairs, fuel assistance & winterization leveraged
- Over 3,400 non-government private loans and creative financial options
- Over 1,595 instances of property tax relief
- Development of the first Reverse Mortgage Loan product in New England & the first Senior Equity Line of Credit in the U. S.

Collaborative Efforts
Due to participation in various elder assistance initiatives, H.O.M.E. collaborates with all relevant elder Home Care agencies, Visiting Nurses, local Councils on Aging, key neighborhood housing agencies such as various C.D.C.s, Greater Boston Housing Partnership and Protective Services, A.B.C.D., and Mass. Association of Older Americans. Critically, H.O.M.E. also partners with nine Boston area law firms and dozens of private bar attorneys; and H.O.M.E. has a very close partnership with all of the state’s Legal Services Corporations.

- Publication of various consumer protection manuals such as:

       - Remainder of Life Planning

       - Reverse Mortgage Danger Signals

Client Profile
- Average age is 79-years-old
- Average income is $18,000 a year
- Little or no saving/assets other than their home
- Average credit card debt is $10,500
- Close to 30% of current case load are elders in jeopardy of losing their home
- 77% are single elderly women

Current Funding
- Foundation and corporate grants
- Individual donations
- Lender donations
- State and federal grants (contracts)


Elder Homeowner Protection Since 1984

Free and totally confidential...800-583-5337




H-O-M-E Copyright 2013