Hoosier Homestead Initiative (HHI)



The Hoosier Homestead Initiative is a program to enable qualified buyers in Indiana to purchase a property from the LaPorte County Commissioners sale or directly from a nonprofit acting on behalf of the commissioners prior to a deed sale.  The goal is to create a long-term resident owner active in the community that will restore and maintain the property.  The buyer will be required to agree to specific guidelines of the sale to qualify as a buyer. Cities and other government entities desire to have all residences occupied by a person that will maintain the property and meet all city requirements.  Tax sales often sell property to investors whose objective is to make a profit.  This may end up in transient rotating rental tenants.   Absentee land owners are less likely to maintain the property according to city ordinances and neighborhood standards. The goal of this program is to avoid the issues of absentee landlords in our communities and to create resident owners that will be good citizens at a price they can afford. This program will help revitalize the community bringing homes up to code and restoring neighborhoods as well as give individuals an opportunity, who otherwise may not have had a chance, to be a homeowner.

 

Requirements –

      Owner brings the home to safe living condition within 6 months of recording the deed.

      Owner moves in and resides in the home within 6 months of taking possession of the property.

      Owners reside in the home for a minimum of 3 years.

      Owner brings the exterior of the property to exceed local government codes within 6 months.

      Owner maintains the exterior to comply with local government codes for minimum of 3 years.

      Owner remains current on all property taxes and utility payments for 3 years.

 

To qualify for the program:

      Must have a steady verifiable source of monthly income

      Must have $1500 to purchase the homes

      Must have current checking and/or saving account at a bank or credit union

      Must have resources to be able to complete the rehab work

      Cannot currently own any other homes

 

Q & A

Q.   Home much will the property cost?

A.   Approximate target is $1500 dollars

 

Q.  How long will the take to buy the home?

A.   It will take a minimum of 6 months.

 

Q.  How do I qualify for the program?

A.  We have a list of qualification requirements for you.

 

Q.  When can I visit the property?

A.  You cannot go on the premises or into the home until the Housing Opportunities takes possession of the property.

 

Q.  What if I don’t like the property once I go inside?

A.   It will be your home so you can change it to your liking.

 

Q.   What it I decide not to take the property?

A.   Depending on the reason you may lose your deposit and be excluded from the program.

 

Q.   What if there is a major problem with the property once I get inside?

A.   At the discretion of HO, they will work with you to fix the issue, allow you to start the process again or exclude you from the program if they don’t agree on the extent of the issue.

 

Q.   What if the home is currently occupied?

A.    Housing Opportunities will work to resolve any current tenant issues prior to transitioning the deed.

 

Q.    What happens if the owner redeems the property and it becomes unavailable to me?

A.    The applicant will be added back the waiting list and select another property if one is available.

 

Q.     What if I do not complete the rehabbing of the property in 6 months?    

A.      This is violation of the deed restriction and at the discretion of Housing Opportunities you may forfeit the property.

 

Q.     What if I get transferred to a job in another city in less than three years and I have to move?

A.      This is violation of the deed restriction and at the discretion of the Housing Opportunities you may forfeit the property. 

Click here to download an application for this project:  HHI Application 





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