Section 8 housing and foreclosure

t-2-t

1. section eight can be a nightmare
2. look at HUD's section 8 regulations: 24 CFR 982.xxx
3. in particular 24 CFR 982.310 and 311 and the 300's in general
4. section eight leases are extremely unreasonable and unfavorable to LLs

it's renewed every year and the waiting list had been frozen several times cause of lack of funding. going forward, do you think the gov will cut section 8 or medicare first?

it reminds me of a family member, buying land to put it into the gov's conservation program as it would be guaranteed to withstand budget cuts going forward

section 8 are very good for serious LLs who know what they are doing. It is not a program for the occasional investor who does not have a real property management operation.There is a lot of paperwork involved. You can always replace a section 8 tenant who lost his/her eligibility with a new tenant assuming you can deal with eviction and you are willing to accept the same level of rent. many organizations will look to rent apartments on behalf of low income tenants and will assume the responsibilities for the rent.