AUSTIN: The government is seriously considering offering a government-backed homeowners’ line of credit for house-rich, cash-poor seniors to help them live in their homes longer.
Government officials in the health, housing and finance ministries are researching the issue.
The government could not provide an estimate of how much such a deferral program might cost, saying that level of detail has yet to be calculated.
A Homeowner Expense Deferral Account would allow low- or moderate-income seniors to hold off making payments for utilities, home insurance and repairs until their death or the house is sold. That’s when the government could recoup its money — along with a basic low-interest charge…