News | HUD Issues Revised HOTMA Guidance
Feb 07, 2024
HUD has adjusted HOTMA Implementation guidance by releasing a revised version of the joint MFH/PIH Notice originally released last September. The updated Notice can be downloaded HERE.
We are still analyzing the Notice for all of the changes, but right away in Appendix A, a significant change can be found. HOTMA introduced limitations on assets that assisted families can own. This includes real property that is suitable for occupancy and when total net family assets exceed $100,000, as adjusted. When HUD issued the original Notice, it deferred guidance on the asset limitations to a future date. The new guidance is found in significant additions to Appendix A. We will post a detailed review of the new guidance very soon.
All of the HOTMA changes and a TON of PRACTICAL IMPLEMENTATION will be discussed in detail at the 2024 Compliance Summit. Check it out HERE or click the below image!
There is a very good chance that the topic of this post is covered in an online on-demand course at Costello University.
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