<p>I’m neither a senior nor a parent at all, but I figured this forum would have the most knowledgable people on this site. Thanks to anyone who can help me.</p>
<p>My grandmother’s hot water heater broke, and she’s pretty much relying on Social Security these days. The company she’s buying the heater from wants her to finance through them, and she asked me to look over their terms and help her. I haven’t seen them yet, but I have no doubt it’s going to be high interest, and that her fixed income is going to restrict her to making minimum payments. My question is if the HUD or any other government outfit would insure a private loan to get her a low rate, or maybe even provide a grant. She doesn’t live in a rural area, but she does need the help financially.</p>
<p>Have you inquired through the local utility company?
I’d check with whatever locality she gets her water from as well as whichever type of heat it is( gas/electric?).</p>
<p>HUD won’t. There may be other social service agencies that can help. If it were my parent, I would loan her the $500, and make sure the water heater was replaced correctly (right size/quality, cost, etc.).</p>
<p>You may also want to ask her bank. Especially if it is a credit union. They may need the “community service” brownie points.</p>
<p>If she attends a church, the Deacon’s fund may be able to help.</p>
<p>I agree with checking with the gas company to see what they offer. We got a new furnace several years ago from our gas company with an 18 month no interest loan. Honestly though, water heaters are not very expensive to buy or install. It’s an easy do it your self project for someone that is handy. Maybe have family members chip in and get Grandma and early Christmas present. She will appreciate that much more than a new sweater :D.</p>