Home arrow Mortgage Forums arrow Budgeting and Personal Finance arrow

conversion to section 8

Author Message
kay

Guest







Post Posted: Wed May 05, 2010 4:11 pm    Post subject: conversion to section 8
Like 0
Dislike 0

what will section8 do for those whomn where sppose to convert into section8 from a shelter rent assistace program calle workadvantage in which after 2 years ursuppose to convert to section8
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant
Icon Mini Profile jenkin7
jenkin7




Joined: 04 Jun 2007

Posts: 4537
Location: Hawaii
728.43 Dollars($)
Post Posted: Wed May 05, 2010 11:31 pm    Post subject:
Like 0
Dislike 0

Hi kay,

There are certain requirements which are hard to meet in the Work Advantage program. Such requirements may make things tougher for the struggling families. For instance, a 3-member family is generally needed to pay $50 rent per month and save at least 10-20% of the rent. But at the same time the family needs to have an income which is below twice the poverty level. In practicality, many families have income way below that limit.

On the contrary, the Section 8 voucher program needs a family to pay 30% of the monthly income towards the rent and the rest is subsidized. This means the family will be left with rest of the 70% monthly income to meet its other basic requirements like food, clothing, etc.
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Refinance Quotes
Call for Rates
Speak to a lender now.
We will match calls to our toll free number with our network of lenders.
Highlights

Financial Tools

Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Helpful References
34 Tax tips boost your savings
12 financial ways for Seniors
Budgeting Lesson 1
401k/403b Retirement Loan


Calculators     [View all]
Calculate Debt-Income Ratio
Calculate Retirement savings
Convert IRA to Roth IRA
Tax savings in 1031 Exchange


Our Community

MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards

Five simple ways to earn money with the Mortgage Community.







We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 0.055 seconds.