Is your name Karen?Anonymous 4 wrote: ↑Sat Mar 09, 2024 9:22 pmYou did nothing but reveal another way to loophole the system. I think I will work towards changing it. This KKKrazy person or anyone else should not be allowed to have these kinds of assets and still qualify for assistance. Now I understand that whole welfare queen topic.Anonymous 3 wrote: ↑Sat Mar 09, 2024 8:55 pmDo you understand what housing assistance is? You are required to pay 30% of your income towards rent and housing assistance makes up the rest (within limits). You seem to feel that people should be rendered penniless before they receive this assistance? Why?Anonymous 4 wrote: ↑Sat Mar 09, 2024 8:51 pm
You want to know the reality? No one with assets should qualify for housing assistance unless and until they have expended their assets to cover those expenses. That's rocket science.
You just clued people in on how to jump the system.
Honestly, I think most people understand how housing assistance works so I would bet I only clued you in.
I dont see a way out of this . I feel a panic attack coming.
Ummm why did you wait so long to get an ID? I am sorry but thats a failure on both you and your dd.....
What if everything is in a trust?Anonymous 3 wrote: ↑Sat Mar 09, 2024 8:27 pmIf your income meets the income requirements (generally 80% of medium) than you qualify. If you are married income requirements are based on household income. It’s not rocket science.Anonymous 4 wrote: ↑Sat Mar 09, 2024 8:00 pmI have zero income with assets that allow me to qualify. According to you, I don't have to "wipe out" my "life savings" to do so.Anonymous 3 wrote: ↑Sat Mar 09, 2024 7:40 pm
If your income meets requirements, you can get it. If not, you’re lucky. Why would you want someone to wipe out their life savings before being eligible for housing assistance or their retirement accounts before being eligible for housing assistance?
Gains on the trust are income.Anonymous 4 wrote: ↑Sun Mar 10, 2024 8:43 amWhat if everything is in a trust?Anonymous 3 wrote: ↑Sat Mar 09, 2024 8:27 pmIf your income meets the income requirements (generally 80% of medium) than you qualify. If you are married income requirements are based on household income. It’s not rocket science.Anonymous 4 wrote: ↑Sat Mar 09, 2024 8:00 pm
I have zero income with assets that allow me to qualify. According to you, I don't have to "wipe out" my "life savings" to do so.
Hypothetically, if you had $50000 in a high yield savings account that yielded 5% annually, the $2500 gain would be considered income both for tax purposes and applying for housing assistance. The $50000 is not considered income nor should it be.
Now you seem to think that someone should liquidate that $50000 before applying for assistance. All that would do is reduce the person's annual income by $2500 thereby enabling them to qualify for additional assistance. It just doesn't make sense.
Ah, yeah they should. That’s one thing savings is to be used for. If I lose my job and have a mortgage I would have to liquidate my savings till I find another job to pay my mortgage. But you are saying if I rent I should not have to do that. No one on assistance should have $100,000 in savings, in my area that is two years of rentAnonymous 3 wrote: ↑Sun Mar 10, 2024 9:38 amGains on the trust are income.Anonymous 4 wrote: ↑Sun Mar 10, 2024 8:43 amWhat if everything is in a trust?Anonymous 3 wrote: ↑Sat Mar 09, 2024 8:27 pm
If your income meets the income requirements (generally 80% of medium) than you qualify. If you are married income requirements are based on household income. It’s not rocket science.
Hypothetically, if you had $50000 in a high yield savings account that yielded 5% annually, the $2500 gain would be considered income both for tax purposes and applying for housing assistance. The $50000 is not considered income nor should it be.
Now you seem to think that someone should liquidate that $50000 before applying for assistance. All that would do is reduce the person's annual income by $2500 thereby enabling them to qualify for additional assistance. It just doesn't make sense.
Gains on a trust are not income. They remain in the trust until someone takes them out, then it is taxed.Anonymous 3 wrote: ↑Sun Mar 10, 2024 9:38 amGains on the trust are income.Anonymous 4 wrote: ↑Sun Mar 10, 2024 8:43 amWhat if everything is in a trust?Anonymous 3 wrote: ↑Sat Mar 09, 2024 8:27 pm
If your income meets the income requirements (generally 80% of medium) than you qualify. If you are married income requirements are based on household income. It’s not rocket science.
Hypothetically, if you had $50000 in a high yield savings account that yielded 5% annually, the $2500 gain would be considered income both for tax purposes and applying for housing assistance. The $50000 is not considered income nor should it be.
Now you seem to think that someone should liquidate that $50000 before applying for assistance. All that would do is reduce the person's annual income by $2500 thereby enabling them to qualify for additional assistance. It just doesn't make sense.
Or you could apply for mortgage assistance, mortgage relief, or state grant. In my state, if you meet income requirements, you can apply for $8000 to cover cost of mortgage or downpayment.Anonymous 8 wrote: ↑Sun Mar 10, 2024 10:54 amAh, yeah they should. That’s one thing savings is to be used for. If I lose my job and have a mortgage I would have to liquidate my savings till I find another job to pay my mortgage. But you are saying if I rent I should not have to do that. No one on assistance should have $100,000 in savings, in my area that is two years of rentAnonymous 3 wrote: ↑Sun Mar 10, 2024 9:38 amGains on the trust are income.
Hypothetically, if you had $50000 in a high yield savings account that yielded 5% annually, the $2500 gain would be considered income both for tax purposes and applying for housing assistance. The $50000 is not considered income nor should it be.
Now you seem to think that someone should liquidate that $50000 before applying for assistance. All that would do is reduce the person's annual income by $2500 thereby enabling them to qualify for additional assistance. It just doesn't make sense.
Generally, someone applying for housing assistance doesn't have $100,000 in a savings account but they may have that in a pension plan, 401K, or IRA. If one has money in those accounts, should they be required to spend that money (and take the HUGE tax penalty) in order to receive assistance? Do your views change depending on the age of the recipient? And really, is it any business of yours?
Man and we were denied state medical insurance before we had kids because we had "too many assets." In other words 2 paid off older cars and we each drove 1 daily to work. They told us we would have to sell 1 to get state insurance. No public transportation where we lived so when I asked them how we should manage getting to work they told me to sell my car and have a baby. Then we would get food stamps, insurance, and housing paid for so it would benefit us.Anonymous 3 wrote: ↑Sat Mar 09, 2024 8:27 pmIf your income meets the income requirements (generally 80% of medium) than you qualify. If you are married income requirements are based on household income. It’s not rocket science.Anonymous 4 wrote: ↑Sat Mar 09, 2024 8:00 pmI have zero income with assets that allow me to qualify. According to you, I don't have to "wipe out" my "life savings" to do so.Anonymous 3 wrote: ↑Sat Mar 09, 2024 7:40 pm
If your income meets requirements, you can get it. If not, you’re lucky. Why would you want someone to wipe out their life savings before being eligible for housing assistance or their retirement accounts before being eligible for housing assistance?
Needless to say I didn't do that I didn't want to use state funds I just wanted insurance in case there was a medical emergency.
Medicaid asset limits are determined by state. Some states have strict asset limits some have no asset limits. There are no asset limits on federal programs such as SNAP and HUD - just income limits.Anonymous 1 wrote: ↑Sun Mar 10, 2024 11:52 amMan and we were denied state medical insurance before we had kids because we had "too many assets." In other words 2 paid off older cars and we each drove 1 daily to work. They told us we would have to sell 1 to get state insurance. No public transportation where we lived so when I asked them how we should manage getting to work they told me to sell my car and have a baby. Then we would get food stamps, insurance, and housing paid for so it would benefit us.Anonymous 3 wrote: ↑Sat Mar 09, 2024 8:27 pmIf your income meets the income requirements (generally 80% of medium) than you qualify. If you are married income requirements are based on household income. It’s not rocket science.Anonymous 4 wrote: ↑Sat Mar 09, 2024 8:00 pm
I have zero income with assets that allow me to qualify. According to you, I don't have to "wipe out" my "life savings" to do so.
Needless to say I didn't do that I didn't want to use state funds I just wanted insurance in case there was a medical emergency.
Didn't really ask I know the difference between a state and federal program it's still ridiculous though.Anonymous 3 wrote: ↑Sun Mar 10, 2024 4:37 pmMedicaid asset limits are determined by state. Some states have strict asset limits some have no asset limits. There are no asset limits on federal programs such as SNAP and HUD - just income limits.Anonymous 1 wrote: ↑Sun Mar 10, 2024 11:52 amMan and we were denied state medical insurance before we had kids because we had "too many assets." In other words 2 paid off older cars and we each drove 1 daily to work. They told us we would have to sell 1 to get state insurance. No public transportation where we lived so when I asked them how we should manage getting to work they told me to sell my car and have a baby. Then we would get food stamps, insurance, and housing paid for so it would benefit us.Anonymous 3 wrote: ↑Sat Mar 09, 2024 8:27 pm
If your income meets the income requirements (generally 80% of medium) than you qualify. If you are married income requirements are based on household income. It’s not rocket science.
Needless to say I didn't do that I didn't want to use state funds I just wanted insurance in case there was a medical emergency.