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Updated over 7 years ago on . Most recent reply

User Stats

44
Posts
14
Votes
Zachary Taylor
  • Investor
  • Little Rock, AR
14
Votes |
44
Posts

Can "borrower" use Section 8 housing vouchers to pay a note?

Zachary Taylor
  • Investor
  • Little Rock, AR
Posted

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

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