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So, you live in a house that needs some repair. I don’t mean a new kitchen or a little paint, I mean REPAIR. Perhaps the furnace has a mind of its own and works sporadically or the home has faulty plumbing. Maybe every time a rain storm comes through town you are immediately on bucket patrol to catch that inevitable drip here or there.

Like many of us, you probably love the house (or neighborhood) despite it’s flaws and you just don’t want to (can’t afford to?) move.  You have the desire and ideas to repair these necessary items; the only things holding you back is finding the money.

Well, if you live in the Lents Town Center or Interstate Corridor areas, you might be in luck. The Portland Development Commission (PDC) has a couple of loan programs for folks needing critical repairs to their homes. Critical repairs include such items as:

• Leaking roof
• Dangerous wiring/faulty electrical circuitry
• Failing structural system
• Faulty plumbing
• Broken sewer connection
• Inoperable heating system
• Hazerdous porch/stairs
• Critical assessibility need
• Code violations related to health or safety

However, there are income levels to qualify (no more than 50% or 80% of Median Family Income, depending upon the loan type) and a list of other criteria:

• Property taxes must be current for owners qualifying for the loan, or no more than two years’ delinquent
• There must be equity in the property equal to the loan amount
• Applicant must intend to occupy the property as the primary residence throughout the term of the loan
• Total assets cannot exceed $50,000, not including the value of the primary residence
• Applicant must be on title to the property
• Loan Conditions :
  • The loan amounts range from $5,000–$10,000; some repair needs may be extensive or too costly and consequently not feasible under this program
  • Lien placed on the property, from 20–30 years, depending on the interest rate
  • Loan comes due when the property changes hands

To start the process of receiving a PDC home remodeling loan you need to contact a PDC Loan Specialist. The telephone number to call is (503) 823-3400 or you can contact a specialist via email here.

Good Luck!

Photo by Penny Mathews, used under creative commons.

I know there are people out there just like me. We have been bitten by the remodeling bug. When we look at that porch with that little bit of dryrot and 7 layers of peeling paint, we don’t curl our lip in disgust and turn our heads away.  Unh-uh. When we see that outdated paneling lining the walls of our new home’s family room we don’t throw up our hands and walk away. No way. We tilt our heads, get a twinkle in our eye and imagine the fabulous possibilities. Peeling paint? That just needs some good sanding, primer and a some paint.  A bathroom the color of the pink flamingo in grandma’s yard? Nothing a chisel, a hammer and some elbow grease can’t take care of! Right?

 I figure it’s all in one’s perspective. Some people like to focus on all the bad about a house - all the work they have to do. I choose to see the good in a house - what it CAN be. Not only does it make my surroundings unique to me, it gives me a feeling of satisfaction to finish a project and know that I did it with my own two hands (and hopefully increase the equity in my home).

Don’t get me wrong, I don’t do EVERYTHING with my own two hands. I do hire out from time to time. I detest doing drywall and I would rather not paint the whole outside of my house (a fear of heights I have delveloped as I have gotten older). However, I have painted inside, tiled, deconstructed (demo-yeah!), stripped doors, moulding and wainscotting, re-glazed windows, replaced cedar shingles, repaired holes in walls, applied plaster texture, laid flooring and changed out light fixtures. (I know there is more, I just can’t think of it all right now).

So, now I need to hear from YOU. What have you done to your home? What would you  like to do? If you have questions I may not have the answers, but I would gladly try to find them. Do you have a remodeling tip you would like to share? I want to hear about it. How about sharing a cool new (or new to you) product you’ve tried and really liked? Pass them along; I’m sure the rest of us would like to hear about it too!