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02 This Fact Sheet is a general guide to inform the Public Housing Agency (PHA) and HUDassisted residents of the responsibilities and rights regarding income disclosure and verification. Since some of the requirements vary by program, residents should consult their PHA to determine the specific policies that apply. Why Determining Income and Family Payment Correctly is Important The Department of Housing and Urban Development s studies show that many resident families pay the incorrect amoun.

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Elderly. An elderly household is one where a single person, the head of household, or the spouse of the head of household is older than 62. Two or more individuals over 62 who live together are also categorized in this way. An individual over 62 living with a live-in aide is also an elderly household.

Federal nondiscrimination laws define a person with a disability to include any (1) individual with a physical or mental impairment that substantially limits one or more major life activities; (2) individual with a record of such impairment; or (3) individual who is regarded as having such an impairment.

Family Member is defined as follows, regardless of actual or perceived sexual orientation, gender identity, or legal marital status: • child, parent, or grandparent; o a child is defined as a son, stepson, daughter, or stepdaughter; o a parent or grandparent includes a step-parent/grandparent or foster.

Elderly. An elderly household is one where a single person, the head of household, or the spouse of the head of household is older than 62. Two or more individuals over 62 who live together are also categorized in this way. An individual over 62 living with a live-in aide is also an elderly household.

“Family” is defined as: All persons living in a household who are related by birth, marriage or adoption.

A percentage of the value of family assets based on the current passbook savings rate as established by HUD. This is called imputed income from assets.

In general, assets over $5,000 are multiplied by a standard rate of return (usually the passbook savings account rate) and the imputed income is added to the income of the applicant(s). This is done regardless of whether the applicant receives a payment.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232