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New Software Available for Affordable Housing Properties

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MRI Software has introduced MRI Affordable Housing, a property management and compliance software program for owners and managers of affordable housing and mixed-income portfolios. This software fully integrates with MRI’s conventional multi-family property management and financial solutions. It is intended…

Family Members of Live-in Aides- New HUD Guidance

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In the past, HUD guidance has indicated that family members of live-in aides could not reside with the aide in housing developments assisted under the HUD Multifamily Housing Division. This includes project-based rental assistance programs such as Section 8, as…

Save Affordable Housing Act of 2019

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On June 25, 2019, four U.S. Senators and three members of the House introduced the Save Affordable Housing Act of 2019. The sole purpose of this proposed legislation is to repeal the qualified contract option for the federal Low-Income Housing…

New HUD Income Exclusion – ABLE Accounts

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On May 6, 2019, HUD published Notice H-2019-06 and Notice PIH 2019-09, Treatment of ABLE Accounts in HUD-Assisted Programs. Background The Achieving Better Life Experience (ABLE) Act was signed into law on December 19, 2014. The ABLE Act allows states…

HUD Publishes 2019 Income Limits

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On April 24, 2019, HUD published the 2019 income limits for HUD programs as well as for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The limits are effective on April 24, 2019.  The limits for the LIHTC and…

GAO Recommends Improvements to REAC – March 2019

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            At the end of March 2019, the Government Accountability Office (GAO) issued a report titled, “REAL ESTATE ASSESSMENT CENTER – HUD Should Improve Physical Inspection Process and Oversight of Inspectors.”             The 2017 Consolidated Appropriations Act, Joint Explanatory Statement,…

Dealing with “Zero Income” Households

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While “zero income” households are rare on Low-Income Housing Tax Credit properties (since there is no rental assistance, income is required in order to pay the rent), such households are not uncommon on Section 8 properties or developments with Rural…

IRS 2018-2019 Priority Guidance Plan

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On November 8, 2018, the IRS released a Priority Guidance Plan for the period July 1, 2018 – June 30, 2019.   This plan outlines the areas that the IRS intends to provide formal guidance on for the rest of…

2019 Social Security COLA

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The federal government announced on October 11, 2018 that the Social Security Cost of Live Adjustment (COLA) for 2019 will be 2.8%.  This is the largest cost-of-living adjustment since 2012. The average SS check is $1,422 a month, meaning next…

Difference Between SSI and SSD

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I recently received an email from a client who indicated that their corporate Section 8 department refused to accept a verification of Supplemental Security Income (SSI) for a person under age 65 as a verification of disability. The Section 8…

HUD Publishes 2018 Income Limits

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On March 30, 2018, HUD published the 2018 income limits for HUD programs as well as for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The limits are effective on April 1, 2018. The limits for the LIHTC and…
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