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Hint for building wealth: if you inherit a few hundred thousand while on section 8, use the Hud housing loan program and buy a house. Stop giving someone else 1/3 of your income with zero equity in return if you are given the chance.
There is a woman in my apartment complex that has Section 8 and lives 6 months of the year in Brazil! She has been doing this for years. So USA pays to subsidize her apt in New York State while she is traveling internationally. $$$ paid for an apt with no one living there.
it is nationwide for Section 8 the $100,000 asset limit. Also HUD Section 811 housing program for people with disabilities has not implemented an asset limit.
@@ellencookman-EstatePlanningSNT since I'm in HUD Section 8 11 and I knew about this change I watched both a HUD sponsored RUclips Channel video about it and downloaded as spreadsheet from a HUD housing authority. HUD Section 8 Nationwide now has a $100,000 asset limit HUD section 8 11 permanent Supportive Housing for disabilities as of now will continue not to have an asset limit.
Great video!!! And Section 8 is only giving you 6 months if your already on Section 8 and you have over $100,000 of assets to spend or put that money in a trust
My neighbor has section 8 housing, she orders from GrubHub Uber eats, she gets all of her groceries delivered, she's driving a brand new 2024 Lincoln Continental, and she bribed to me the other day that she only pays $150 for a two-bedroom apartment. And she gets $130 a month for a light bill. My husband is a veteran, we're lucky to get 256 a month for a one bedroom apartment, and we get no allotment for lights. And we are living on $1,379 a month for two people, and we only are a lot of 23.00 a month food stamps
I've from Baltimore MD and I have been on section 8 for 7 years I have a worker who is not very helpful and rude and I'm homeless I need help is there any
I’m sorry to hear of your situation. - Unfortunately I’m not familiar with Maryland laws- you might want to look on Academy of Special Needs Planners website to find an attorney in your area who can help you.
I live in Georgia; You forgot to mention HUD Section 811 housing program for people with disabilities has not implemented an asset limit. I been in my HUD Section 811 housing since 2011. I been work the whole time except a 2 year gap I was unemployed. In 2020 I inherited $325,000 . I choice not to create a Special Needs because HUD counts the whole withdraw in calculating rent; vs only $13,000 a year in dividend and interest income. I also chose not to create a Special Needs Trust because of the higher tax rate and expenses like vacations do not count a qualified expense.
@@martinguldnerAutisticSwanGuru Sorry, I don't understand you comment. How can HUD count Special Needs Trust as income?? Also, according to this video, now you'd be over the asset limit of $100,000. I'm only trying to understand because I'm in a similar situation, and cannot get direct answers.
@@Lili-xq9sn HUD counts distributions from Special Needs Trust and any other trusts as income. Only HUD Section 8 which is for anyone that is low income has the new $100,000 asset limit effect of this year. HUD section 811 Permanent Supportive Housing Program for people with disabilities that was once homeless has not implemented an asset limit in 2024. Since I'm in HUD section 811 housing program I specifically researched this change and it does not affect me.
@@martinguldnerAutisticSwanGuru sorry, but you may not understand a Special Needs Trust doesn't do distributions. It specifically is to shield you from getting the$. It pays for Needs (termed in the Trust). It doesn't pay me directly. How is a Special Needs Trust income under hud??
@@Lili-xq9sn don't you have to take money out of Special Needs Trust to pay for things such as rent, utilities if not included in the rent payment, Medical Care even if it's a co-pay or deductible.
@@martinguldnerAutisticSwanGuru Special Needs Trusts (SNT) are very different from other Trusts. 1) non-revocable: you give all $ to the trust forever! 2) SNT never GIVES you $: $ is paid by Trust for certain expenses outlined in Trust....essentially pays specific bills (not paying you, though). 3) SNT cannot cover regular, recurring bills or any bill that would make you lose your social services benefits, like Medicaid. For this reason, it can't pay your portion of Section 8 rent. [You "can't take $ out of SNT because the $ is no longer yours, or under your control. It's a deal with the Devil to still use social services & have inheritance. If you die before inheritance $ in SNT is spent, then every State you got help from drains the remaining $ from the SNT.]
The commenters are full of crap!!! If you have never applied for affordable housing or section you you ha e no idea what goes on. People are literally forceð to reduce their hours, make drastic cut backs to qualify! No one wants to homeless and if the system works in your favor and you can afford to live marginally then why not? I dont have any because I make too much but not enough to pay market rent. To qualify I would have to cut back and live just to pay rent just to live in"affordable housing" Yes, ppl drive nice cars, and take vacations because that is how the system works. The entire system is rigged and people become masters of disguise and learn how to play the system. I am not hating, toodles to those who beat them at their own games!!!
Subscribe to our Newsletter to stay up to date on all things Estate Planning and more! app.lawmatics.com/forms/share/3944a0fd-07f7-4c4a-8138-9e32e51367bc
Hint for building wealth: if you inherit a few hundred thousand while on section 8, use the Hud housing loan program and buy a house. Stop giving someone else 1/3 of your income with zero equity in return if you are given the chance.
Great advice. But in CA you probably won’t be able to buy much.
@@lfuentes4098 you can buy plenty. You have to have hope enough to look and to find. To think you can and that you're worth it
@@lfuentes4098 Even in the smaller towns??
What counts as countable assets? Does my IRA count?
I live in Bay Area I hope as a disabled senior this helps. ✌️
There is a woman in my apartment complex that has Section 8 and lives 6 months of the year in Brazil! She has been doing this for years. So USA pays to subsidize her apt in New York State while she is traveling internationally. $$$ paid for an apt with no one living there.
Does this new rule apply to other states' section 8??
it is nationwide for Section 8 the $100,000 asset limit. Also HUD Section 811 housing program for people with disabilities has not implemented an asset limit.
I don’t practice in other states, so unfortunately I’m not familiar with low income housing rules elsewhere
@@ellencookman-EstatePlanningSNT since I'm in HUD Section 8 11 and I knew about this change I watched both a HUD sponsored RUclips Channel video about it and downloaded as spreadsheet from a HUD housing authority. HUD Section 8 Nationwide now has a $100,000 asset limit HUD section 8 11 permanent Supportive Housing for disabilities as of now will continue not to have an asset limit.
Great video!!! And Section 8 is only giving you 6 months if your already on Section 8 and you have over $100,000 of assets to spend or put that money in a trust
My neighbor has section 8 housing, she orders from GrubHub Uber eats, she gets all of her groceries delivered, she's driving a brand new 2024 Lincoln Continental, and she bribed to me the other day that she only pays $150 for a two-bedroom apartment. And she gets $130 a month for a light bill. My husband is a veteran, we're lucky to get 256 a month for a one bedroom apartment, and we get no allotment for lights. And we are living on $1,379 a month for two people, and we only are a lot of 23.00 a month food stamps
I need my section 8 because I have cancer can't live a long know more
Gaming the system and taking benefits away from other more needy families!
I live in the Bay area Alameda county
Where do I apply?
Here’s a link I found on applying in Alameda County: www.haca.net/applicants/applying-for-housing/
I've from Baltimore MD and I have been on section 8 for 7 years I have a worker who is not very helpful and rude and I'm homeless I need help is there any
I’m sorry to hear of your situation. - Unfortunately I’m not familiar with Maryland laws- you might want to look on Academy of Special Needs Planners website to find an attorney in your area who can help you.
My landlord is a bully 😭
Section 8 doing me wrong right now and I gotta move again but who’s gonna return the security deposit bk 1950$
I live in Georgia; You forgot to mention HUD Section 811 housing program for people with disabilities has not implemented an asset limit. I been in my HUD Section 811 housing since 2011. I been work the whole time except a 2 year gap I was unemployed. In 2020 I inherited $325,000 . I choice not to create a Special Needs because HUD counts the whole withdraw in calculating rent; vs only $13,000 a year in dividend and interest income. I also chose not to create a Special Needs Trust because of the higher tax rate and expenses like vacations do not count a qualified expense.
@@martinguldnerAutisticSwanGuru Sorry, I don't understand you comment. How can HUD count Special Needs Trust as income?? Also, according to this video, now you'd be over the asset limit of $100,000.
I'm only trying to understand because I'm in a similar situation, and cannot get direct answers.
@@Lili-xq9sn HUD counts distributions from Special Needs Trust and any other trusts as income. Only HUD Section 8 which is for anyone that is low income has the new $100,000 asset limit effect of this year. HUD section 811 Permanent Supportive Housing Program for people with disabilities that was once homeless has not implemented an asset limit in 2024. Since I'm in HUD section 811 housing program I specifically researched this change and it does not affect me.
@@martinguldnerAutisticSwanGuru sorry, but you may not understand a Special Needs Trust doesn't do distributions. It specifically is to shield you from getting the$. It pays for Needs (termed in the Trust). It doesn't pay me directly. How is a Special Needs Trust income under hud??
@@Lili-xq9sn don't you have to take money out of Special Needs Trust to pay for things such as rent, utilities if not included in the rent payment, Medical Care even if it's a co-pay or deductible.
@@martinguldnerAutisticSwanGuru
Special Needs Trusts (SNT) are very different from other Trusts.
1) non-revocable: you give all $ to the trust forever!
2) SNT never GIVES you $: $ is paid by Trust for certain expenses outlined in Trust....essentially pays specific bills (not paying you, though).
3) SNT cannot cover regular, recurring bills or any bill that would make you lose your social services benefits, like Medicaid. For this reason, it can't pay your portion of Section 8 rent.
[You "can't take $ out of SNT because the $ is no longer yours, or under your control. It's a deal with the Devil to still use social services & have inheritance. If you die before inheritance $ in SNT is spent, then every State you got help from drains the remaining $ from the SNT.]
The commenters are full of crap!!! If you have never applied for affordable housing or section you you ha e no idea what goes on. People are literally forceð to reduce their hours, make drastic cut backs to qualify! No one wants to homeless and if the system works in your favor and you can afford to live marginally then why not? I dont have any because I make too much but not enough to pay market rent. To qualify I would have to cut back and live just to pay rent just to live in"affordable housing"
Yes, ppl drive nice cars, and take vacations because that is how the system works. The entire system is rigged and people become masters of disguise and learn how to play the system. I am not hating, toodles to those who beat them at their own games!!!