Senior citizens are eligible for an extra "elderly" deduction or allowance under Department of Housing and Urban Development rules when they rent HUD-subsidized apartments. The deduction applies if either the head of the household, or the spouse thereof, is 62 or older. It changes the subsidy l...
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A HUD home is a house being sold to the public by the U.S. Department of Housing and Urban Development. HUD homes areforeclosed propertieswhose original owners defaulted on theirFHA mortgage. These homes have since been reacquired by the government, which typically wants to sell them quickly ...
The back-end ratio measures all monthly payments on long-term debt as a percent of the borrower's gross monthly income. Long-term debt will include the proposed housing expense in the front-end ratio along with other sources of debt such as student loans, car loans, credit cards, alimony ...