News | HOTMA Asset Limitation Guidance is Coming. In the Meantime...

Adjustments are coming...

There has been a HOTMA update from HUD. It informs us that HUD is working on further guidance about the discretion owners have relating to the limitation on assets exceeding $100,000 and real property suitable for occupancy for HUD-assisted households. The recent HUD guidance denied that owners have much discretion on this matter, while the statute and regulation appear to indicate wider latitude - so this has been hotly contested. We expect more discretion once HUD has finalized its guidance.

While we wait...

Until the final guidance on this matter is issued, HUD reminds us that we cannot implement these asset limitations until the HUD model leases have been released and signed by households. A final note here: the asset limitations do not apply to HOME, NHTF, or LIHYC households.

Check the HUD guidance to get all the details HERE.

We'll catch up on this and all other HOTMA updates in two training options next week. Check out the links below. 

Need help identifying forms needing HOTMA adjustment? Check out our new upcoming HOTMA training:

One 4-hour webinar or easily digestible weekly installments for 12 weeks.

Webinar on December 4th and Hybrid training starting December 5th. Days left to register! Links available from the front page of this website. Get there by clicking the image below.