Section 8 Occupancy Handbook,   page 177
   Regulations and Comprehensive Index, 2004 Edition,    ISBN 1-59330-128-6
  By David Hoicka

        This web page, reproduced from page 177 of the Section 8 Occupancy Handbook, shows where the following Keywords and Phrases are referenced in HUD Section 8 Regulations:
2001, 2004, 24 Cfr 5, Amount Due, Annual, Annual Income, Applicable, Area, Assistance, Assistance Payment, Assistance Payments, Calculate, Calculated, Catastrophic, Ceiling, Close, Continued, Current, Declared, Defined, Determine, Determined, Determines, Directly To, Disabled, Disabled Family, Disaster, Discretion, Distribution, Downpayment, Downpayment Assistance, Eligibility, Eligibility Requirements, Emergency, Excess, Family, Federally, First-time Homeowner, Full Amount, Grant, Grants, Home, Homeowner, Homeownership, Homeownership Assistance, Homeownership Option, Hud, Impact, In Accordance With, Income, Income Family, Initial, July, June, Low Income, Major Disaster, Median, Median Income, Medical, Monthly, Mortgage, Mortgage Default, Mortgage Defaults, Move, Must, Not Exceed, Option, Participate, Payment, Payments, Period, Permit, Pha, Pilot Program, Program, Provisions, Receive, Regarding, Requirements, Residing, Satisfied, Single, Title, Unit, Voucher.

to the homeownership option (as described in Secs. 982.625 through 982.641) are also applicable to the pilot program.

(c) Initial eligibility requirements. Before commencing homeownership assistance under the pilot program for a family, the PHA must determine that all of the following initial requirements have been satisfied:

(1) The family is a disabled family (as defined in Sec. 5.403 of this title);

(2) The family annual income does not exceed 99 percent of the median income for the area;

(3) The family is not a current homeowner;

(4) The family must close on the purchase of the home during the period starting on July 23, 2001 and ending on July 23, 2004; and

(5) The family meets the initial requirements described in Sec. 982.626; however, the following initial requirements do not apply to a family seeking to participate in the pilot program:

(i) The income eligibility requirements of Sec. 982.201(b)(1);

(ii) The first-time homeowner requirements of Sec. 982.627(b); and

(iii) The mortgage default requirements of Sec. 982.627(e), if the PHA determines that the default is due to catastrophic medical reasons or due to the impact of a federally declared major disaster or emergency.

(d) Amount and distribution of homeownership assistance payments. (1) While the family is residing in the home, the PHA shall calculate a monthly homeownership assistance payment on behalf of the family in accordance with Sec. 982.635 and this section.

(2) A family that is a low income family (as defined at 24 CFR 5.603(b)) as determined by HUD shall receive the full amount of the monthly homeownership assistance payment calculated under Sec. 982.635.

(3) A family whose annual income is greater than the low income family ceiling but does not exceed 89 percent of the median income for the area as determined by HUD shall receive a monthly homeownership assistance payment equal to 66 percent of the amount calculated under Sec.

982.635.

(4) A family whose annual income is greater than the 89 percent ceiling but does not exceed 99 percent of the median income for the area as determined by HUD shall receive a monthly homeownership assistance payment equal to 33 percent of the amount calculated under Sec. 982.635.

(5) A family whose annual income is greater than 99 percent of the median income for the area shall not receive homeownership assistance under the pilot program.

(e) Assistance payments to lender. The PHA must make homeownership assistance payments to a lender on behalf of the disabled family. If the assistance payment exceeds the amount due to the lender, the PHA must pay the excess directly to the family. The provisions of Sec. 982.635(d), which permit the PHA to make monthly homeownership assistance payments directly to the family, do not apply to the pilot program.

(f) Mortgage defaults. The requirements of Sec. 982.638(d) regarding mortgage defaults are applicable to the pilot program. However, notwithstanding Sec. 982.638(d), the PHA may, in its discretion, permit a family that has defaulted on its mortgage to move to a new unit with continued voucher homeownership assistance if the PHA determines that the default is due to catastrophic medical reasons or due to the impact of a federally declared major disaster or emergency. The requirements of Secs. 982.627(a)(5) and 982.627(e) do not apply to such a family.

{66 FR 33613, June 22, 2001}

24 CFR 982.643 Homeownership option: Downpayment assistance grants.

(a) General. (1) A PHA may provide a single downpayment assistance grant for a

Cite this page as:
"Hoicka, David. Section 8 Occupancy Handbook - Regulations and Comprehensive Index, 2004 Edition, ISBN 1-59330-128-6. San Diego, CA: Aventine Press, 2004, at page 177."

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       The goal of this Section 8 Handbook and Index is to simplify Section 8 management, and save time for the busy Section 8 Administrator and Affordable Housing Professional, by making it easier to locate program rules and regulations by looking up key phrases.

       Look up a phrase, and this Index will show you where to find it in the HUD Regs.

       This Section 8 Handbook's Comprehensive Index includes 170 pages of major Section 8 Housing Regulations in current CFRs, and nearly 400 pages of comprehensive index, with about 6,300 entries, and over 120,000 references, organizing access to the main sources of regulatory and management control of Section 8 Housing Programs.

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