The Otterbein Home Conversion Program allows seniors to ease themselves out of mortgage free homes they have owned for decades.
In this program, individuals transfer ownership of their home to Otterbein so they can move into a senior living community without having the stress and hassle of selling their home.
Under the program, seniors transfer home ownership to the nonprofit (Otterbein), and leave behind repairs, preparation and staging; home maintenance, realtors’ fees, property taxes and more. Seniors who move to an Otterbein Senior Lifestyle Community get a fixed monthly payment for life, based on their age, which is a percent of their former home's appraised value.
Once ownership transfer occurs, "Otterbein picks up every expense from that point forward," explained Donna Coleman, Vice President for Otterbein’s Charitable Gift Planning. She adds, “the hassle of marketing and selling a home is often a barrier that keeps people from making a positive move to more dreaming, less worry; more ease, less chaos; more fun, less work; more time, more laughter, more love.”
To learn more about Otterbein’s Home Conversion Program, contact Hodge Drake at (513) 933-5447 or firstname.lastname@example.org.
Otterbein Senior Lifestyle Choices is a 501(c)(3) not-for-profit organization.