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200809274
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Last modified
11/5/2008 4:40:16 PM
Creation date
11/5/2008 4:33:43 PM
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DEEDS
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200809274
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<br />200809274 <br /> <br />2VOM968 <br /> <br />Column (0) <br /> <br />Enter the annual amount of alimony, child support, unemployment benefits or any other income <br />regularly received by the household. <br /> <br />Row (E) <br /> <br />Add the totals from columns (A) through (0), above. Enter this amount. <br /> <br />Part IV - Income From Assets <br /> <br />See HUD Handbook 4350.3 for complete instructions on verifying and calculating income from assets, including acceptable <br />forms of verification. <br /> <br />From the third-party verification forms obtained from each asset source, list the gross amount anticipated to be received during the <br />twelve months from the effective date ofthe certification. List the respective household member number from Part II, and complete a <br />separate line tor each member. <br /> <br />Column (F) <br /> <br />List the type of asset (i.e., checking account, savings account, etc,). <br /> <br />Column (G) <br /> <br />Enter "C" (for current, if the family currently owns or holds the asset) or "I" (for imputed, if the <br />family has disposed of the asset tor less than fair market value within two years of the effective date <br />of (re )certification). <br /> <br />Column (H) <br /> <br />Enter the cash value of the respective asset. <br /> <br />Column (I) <br /> <br />Enter the anticipated annual income from the asset (i.e., savings account balance multiplied by the <br />annual interest rate). <br /> <br />TOTALS <br /> <br />Add the total of Columns (H) and (I), respectively. <br /> <br />If the total in Column (H) is greater than $5,000, you must do an imputed calculation of asset income. Enter the Total Cash Value, <br />multiply by 2% and enter the amount in Column (J), Imputed Income. <br /> <br />Row (K) <br /> <br />Enter the greater of the total in Column (I) or (1). <br /> <br />Row (L) <br /> <br />Total Annual Household Income From all Sources. Add (E) and (K), and enter the total. <br /> <br />HOUSEHOLD CERTIFICATION AND SIGNATURES <br /> <br />After all verifications of income and/or assets have been received and calculated, each household member age 18 or older must sign <br />and date the Tenant Income Certification. For move-in, it is recommended that the Tenant Income Certification be signed no earlier <br />than 5 days prior to the effective date of the certification. <br /> <br />Part V - Determination of Income Eligibility <br /> <br />Total Annual Household Income <br />from all Sources <br /> <br />Enter the number from item (L). <br /> <br />Current Income Limit per Family <br />Size <br /> <br />Enter the Current Move-in Income Limit for the household size. <br /> <br />Household income at move-in <br />Household size at move-in <br /> <br />For recertifications only. Enter the household income from the move-in <br />certification. On the adjacent line, enter the number of household members from the <br />move-in certification. <br /> <br />Household Meets Income <br />Restriction <br /> <br />Check the appropriate box for the income restriction that the household meets <br />according to what is required by the set-aside(s) tor the project. <br /> <br />Current Income Limit x 140% <br /> <br />For recertifications only. Multiply the Current Maximum Move-in Income Limit by <br />140% and enter the total. Below, indicate whether the household income exceeds <br />that total. If the Gross Annual Income at recertification is greater than 140% of the <br />current income limit, then the available unit rule must be follDwed. . <br />
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