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Housing Options Available For Seniors And The Elderly

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    Found some info worth sharing on all the housing options for seniors and the elderly. Since so much of this information is scattered online, thought it would be good to have it all in one place.. maybe it can help someone. Below is info for subsidized housing, subsidized apartment living, reverse mortgages, local programs, and private counseling services.

    Post other portals and info here, if you find more than I missed. Here are the big 4 portals I think covers most every option out there:


    1.) Local/Private Housing Counseling Services

    This is the official HUD (U.S. Department of Housing and Urban Development) program that I would take advantage of, likely first. They give all kinds of varied and specific advice on where to start in the process of finding housing for seniors all across the country. And this agency can get you in touch with local advisers that can help you with your unique situation and goal.

    Very likely they will tell you about the following 2-4 options (and possibly even more):


    2.) HUD's Public Housing Program. (formerly the Section 8 housing program)

    Notable Details, pertaining specifically to senior citizens, to qualify if interested:

    • Annual net income can't exceed 50% of your area's median income
    • Monthly payment will never be more than 30% of your net income
    • No limitations on how long you can stay, or use the program's vouchers
    • Apply by contacting your Local Public Housing Agency (PHA)

    3.) USDA Affordable Rural Housing

    This is another subsidy housing program, but for Multi-Family Housing (MFH), specifically covering 15,000+ apartment complexes all across the nation. Apartment options available range in size from studio floor plans, to 4-bedroom apartments. As income level qualifications vary greatly from location to location, use their website to check and see if you qualify.


    4.) FHA Reverse Mortgages

    Someone already covered Reverse Mortgages on this site: When Should You Consider a Reverse Mortgage. So, to talk specifically about that option, I recommend checking out that forum. But just as a reminder, if you are elderly and wish to continue living in your own house, but need help paying the mortgage, this is an option for you. There are many requirements, and it's not the one I would advise the most. But in some cases, it can work for you. Use that link above to find out all the many details on this program.

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    J.K.Logic Wrote:

    2.) HUD's Public Housing Program. (formerly the Section 8 housing program)

    When did they rename section 8 housing? Very nice breakdown here. You don't know how many options are for housing, until you see it all grouped together in one place.