In 1983, David and his wife were looking for a quiet neighborhood to settle down in. The house that became their home was historical; one of five homes built by Bernard Vonnegut, the grandfather of Indianapolis author Kurt Vonnegut. The property was originally constructed to house the workers that quite literally built the city of Indianapolis.
David Hostetter and his wife have lived in that home since 1983. They raised their four children, saw them all graduate from high school, and then even had a grandchild born in the house.
When the COVID-19 pandemic hit the U.S. hard, David lost his business and had to take early retirement. He and his wife’s main concern was figuring out a way to keep their home.
“A lot of people think of houses as an investment, but our house truly is a home. We and our neighbors really help build the neighborhood into a wonderful community.”
The generous hospitality David and his wife offered was always returned, and their home became a sort of centerpoint for many neighbors.
Made possible by a grant from the City of Indianapolis, Renew Indianapolis partnered with Kheprw Institute to create the IndyAMP program that ultimately allowed David and his wife to stay in their home of 38 years.
The Indy Affordable Modification Program (IndyAMP) allows homeowners negatively affected by COVID-19 to refinance mortgage debt at a below-market interest rate for up to 30-years. IndyAMP homeowners can remain in their homes, become current with their mortgages, and lower their monthly payment.
“The process of completing the program could not have been easier,” says David. “We’ve had to refinance a few times over the years and had to put a lot of time and money into it. But the process with IndyAMP was very easy and smooth.” David says he now brags to people that he got a great loan at a great cost.
David turned 70 recently, which means that he’s spent almost half of his life in the historic home he almost lost. Thanks to the IndyAMP program, he and his wife can continue to live in a home they love with the community that inspires them.
Have you been hit hard by the pandemic and worried about paying your mortgage? Check out the Indy AMP program and start the process.