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July 24, 2020 Quizzle

Question One

Kenneth Barber lives at Happy Valley Estates with his 4-year old twin sons Eric and David. Kenneth is in the military and will be deployed for six months and has arranged for his parents to live in the unit during his absence. The household will need to complete a recertification to add the parents and their income to the household prior to Kenneth leaving on his deployment.

 

Answer: False - HUD 4350.3 encourages and allows for some leniency and support for military households with children. An owner can take action and remain in compliance by allowing a guardian to move into the low-income unit on a temporary basis to provide care for any dependents the military person leaves in the unit. The guardian’s income is not included in the household’s income.

 

 

Question Two

Tony and Janet are scheduled to move into Whispering Pines Apartment Community on August 1, 2017.  In planning their estate, they transferred their country home to their daughter Sonia on April 1, 2017. The home has an estimated market value of $280,000.00. Because the home was a gift to their daughter and a result of estate planning it will not be included as an asset.

 

Answer: False - All assets that are disposed of with a value of $1,000 or more need to be listed and included. The exception would be if the property was disposed by foreclosure, bankruptcy, divorce or separation settlements.

 

 

Question Three

Blue Nile Apartments is a 100 unit property that was built in 2015.  The property is project based Section 8 with LIHTC housing.  How many units must be accessible?

  1. 10% of the units
  2. 3% of the units
  3. 20% of the units
  4. 5% of the units

 

Answer: d

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