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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16544
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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My wife & I are applying for senior citizens housing but my

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My wife & I are applying for senior citizens housing but my wife doesn't want to tell them about her savings account. any issues with this?

Megan C :

Thanks for your question, and thanks for using JustAnswer.com

Megan C :

Are you applying for housing that is funded by tax credits? That is, is this for low income individuals?

Megan C :

If this is a low income property, then you would have to tell them about your savings account because your eligibility to live in the housing may depend on your resources and they must know about your resources.

Megan C :

If you don't tell them, and then they find out, they can come back and collect back rent from you and you could lose the housing.

Customer:

This is for senior citizens housing, I assume low income as our combined income from SS and my small pension is just 38549/year

Megan C :

That's actually not low income. Low income would be under $20,000 per year

Megan C :

If this is not a government funded housing complex, then you would not have to tell them about your assets.

Customer:

OK but if it is govt funded then I would have to tell them correct?

Megan C :

Yes, you would because it's one of the conditions of getting the assistance to live in that housing

Megan C :

If it's funded by tax credits then you have to tell them.

Customer:

OK then thank you for your assistance - I'm sure this is a "No brainer question" but best to be sure than not

Megan C :

No, it's a good question and I'm glad you asked :-)

Megan C :

If there's nothing else I can assist you with, will you please rate my response as "excellent" so that I may receive credit for assisting you today

Customer:

can I print this out?

Megan C :

Yes, using your browser's print function

Megan C :

an email transcript should be sent to you as soon as you rate and close out the chat

Customer:

good enough thank you

Customer:

good thanks

Megan C and other Finance Specialists are ready to help you
Thanks, Jerry for your positive rating. Please come back and visit me for any of your needs. It waws a pleasure working with you today. Best of luck!

Thanks!

Megan

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