I dont see a way out of this . I feel a panic attack coming.

[Anonymous 3]

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.

Do 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?

Honestly, I think most people understand how housing assistance works so I would bet I only clued you in.

You 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.

Is your name Karen?

[Anonymous 9]

Ummm why did you wait so long to get an ID? I am sorry but thats a failure on both you and your dd.....

[Anonymous 4]

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?

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.

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.

What if everything is in a trust?

[Anonymous 3]

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.

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.

What if everything is in a trust?

Gains 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.

[Anonymous 8]

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.

What if everything is in a trust?

Gains 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.

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 rent

[Anonymous 10]

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.

What if everything is in a trust?

Gains 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.

Gains on a trust are not income. They remain in the trust until someone takes them out, then it is taxed.

[Anonymous 3]

What if everything is in a trust?

Gains 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.

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 rent

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.

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?

[Anonymous 1]

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?

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.

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.

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.
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.

[Anonymous 3]

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.

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.

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.
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]

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.

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.
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.

Didn't really ask I know the difference between a state and federal program it's still ridiculous though.