Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Tax Liens & Mortgage Notes
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

44
Posts
14
Votes
Zachary Taylor
  • Investor
  • Little Rock, AR
14
Votes |
44
Posts

Can "borrower" use Section 8 housing vouchers to pay a note?

Zachary Taylor
  • Investor
  • Little Rock, AR
Posted

Hello BP,

I bought my first NPN in NY State a few month ago. The borrower is deceased. No payments have been made for over a year.

The heirs/relatives live in the home still. I have been communicating with them. They are responsive and friendly. They actually sent a copy of the borrower's will directly to my attorney.

They agreed to start paying the $500 next month but also are seeking government housing assistance. My first thought was Section 8, but I am still unclear on what agency.

They asked me for a letter stating the monthly payment and that utilities were not included. 

MAIN QUESTIONS: 

Do any of you have notes being paid with housing assistance vouchers (such as Section 8)? 

What is the process? Anything I need to be aware of? 

What do I need to supply these people with to give them the greatest possibility for approval of housing assistance? 

What are the hoops, paperwork/forms, etc need to be completed?

Thanks!

Zack

Loading replies...