R.I. Housing offering program to help its customers manage winter heating bills

PROVIDENCE – Rhode Island Housing is offering a heating assistance program to its customers manage winter heating costs.

The nearly 10-year-old program allows Rhode Island Housing’s FirstHomes 100 and 100+ customers to defer $200 per month from their mortgage payments for up to four months this winter – December, January, February and March. They then can make up the difference by paying an extra $100 per month during the eight months after the heating season.

“At Rhode Island Housing, we want to do all we can to ensure that our customers can live safely and comfortably in their homes and continue to afford to pay all of their monthly bills on time,” Peter Walsh, director of homeownership and customer service at Rhode Island Housing, said in a statement. “Rhode Island Housing’s commitment to our customers does not end with the closing of a loan. We’re unique because we service our loans, which gives us the flexibility to respond to the needs of our customers who may want options to handle the expense of heating their homes. The heating assistance program is an example of our capacity to develop programs to address our customer’s needs.”

The program is free and will not increase the interest customers pay on their mortgages. Rhode Island Housing will be sending out details of the program to almost 7,000 mortgage customers this month.

- Advertisement -

The U.S. Energy Information Administration is forecasting higher prices this winter for homes that heat with natural gas and electricity.

Propane and home heating oil prices are expected to be lower than last winter. Expenditures are expected to be lower this winter unless there is a repeat of last winter’s cold weather, the agency said.

Rhode Island Housing customers can contact the agency’s Loan Servicing Division at (800) 854-1180 with questions.

No posts to display