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| What is Section 8 |
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Millions of dollars has been budgeted by (HUD) US Department of Housing and Urban Development for Housing Assistance in the private sector
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| Facts About the Section 8 Housing Program |
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Today's Housing Choice Voucher program provides 1.9 million low-income families with subsidies to help them afford a decent place to live in the private rental market.
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| RENT BURDEN |
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HUD feels that no family should spend any more than 40% of their income for housing cost. Any more than that amount is considered a rent burden
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| Single Room Occupancy (SRO) Section 441 |
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The SRO Program provides rental assistance for homeless persons in connection with the moderate rehabilitation of SRO dwellings. SRO housing contains units for occupancy by one person. These units may contain food preparation or sanitary facilities, or both.
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| Loans For Economic Development |
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The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.
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| Tax advantages |
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"The tax laws are very favorable to real estate investors."
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| Current income |
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Landlords collect rent from tenants: over the years, increasing rents can provide another source of cash flow. "I receive about $1,000 a month from the house I rent in Southfield, or $12,000 a year," says Perkins. " After expenses, I probaly clear about $6,000, which I consider 'play money."
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