Sinner Puffers
kiwifarms.net
- Joined
- Mar 22, 2024
Cobra is not in Section 8 housing and doesn't get money related to housing from the government. It just happens that his disability payment goes from the government to Clint to his landlord and covers it. (barely)This is incredibly interesting information and does provide Clint a good excuse. I'd not have wagered it. Does government subsidized housing prevent him from buying? Like, theoretically, if you have $1000/mo in housing subsidies, there's quite a bit of property you could afford to mortgage.
As for buying property with housing subsidies there is an obvious initial problem that I'm 99% sure prevents it: there are asset limits on drawing housing subsidies.
The way section 8 works is that it's tied to your income. It varies across the country but generally a capped percent of you monthly income (say 30%) is automatically given to the landlord and the government pays the remaining percent.
However, there are limits on both your monthly income AND how much you have in terms of assets. This is why most seniors aren't eligible for Section 8 housing, because even if they have small monthly incomes from Social Security or a pension that meets the low income requirements even the poorest usually has thousands of dollars in assets that disqualify them,
So first of all, no-one eligible for section 8 would be approved for a mortgage, but even if they did the equity built up would quickly disqualify them from receiving the housing money at all because their assets would exceed the maximum amount.
Someone correct me if I'm wrong about anything here, although I know for a fact that Cobra isn't in section 8 or drawing any sort of housing subsidy.


