Tax Liens & Mortgage Notes
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 7 years ago, 09/11/2017
Can "borrower" use Section 8 housing vouchers to pay a note?
Hello BP,
I bought my first NPN in NY State a few month ago. The borrower is deceased. No payments have been made for over a year.
The heirs/relatives live in the home still. I have been communicating with them. They are responsive and friendly. They actually sent a copy of the borrower's will directly to my attorney.
They agreed to start paying the $500 next month but also are seeking government housing assistance. My first thought was Section 8, but I am still unclear on what agency.
They asked me for a letter stating the monthly payment and that utilities were not included.
MAIN QUESTIONS:
Do any of you have notes being paid with housing assistance vouchers (such as Section 8)?
What is the process? Anything I need to be aware of?
What do I need to supply these people with to give them the greatest possibility for approval of housing assistance?
What are the hoops, paperwork/forms, etc need to be completed?
Thanks!
Zack