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Subsidized Housing More Chaotic Than Federal Housing Tax Credit

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By : John Cutts    99 or more times read
For those who did not qualify or failed to beat the deadline for the federal housing tax credit, another opportunity is being offered to get a chance to acquire or rent residences with the help of the U.S. federal government. The subsidized housing program called Section 8 is accepting applications and Georgia is the next stop for those who wish to avail of the assistance.

The housing market crisis affected various areas of the state, including Decatur foreclosure investing, so it was not surprising that thousands braved the heat to line up in front of the East Point Housing Authority headquarters to submit their applications. The sheer number of applicants led to chaos which reportedly resulted in several injuries.

However, these applicants were not just East Point or Decatur residents or families affected by Georgia foreclosed homes as the initiative is a federal one and anybody can submit an application. Authorities at the East Point housing office were able to gather the applications in an orderly manner on Thursday, preventing a repeat of the mob-like scene the day before.

After the federal housing tax credit expired, a lot of people see the government housing subsidy program as another chance to get a home. However, housing authority officials have admitted that majority of those who submitted applications will likely wait years until they can get housing assistance under the program.

They explained that it is not as easy as being given money by the government to purchase foreclosure houses for sale or being provided occupancy in a subsidized apartment unit. Applicants will be included in a list and selection is not first come, first serve. Officials explained that several factors will be used in choosing successful applicants, including employment status, disability, age, size of the family, financial status, etc.

Housing authority officials have stated that there are around 650 residential spots available comprised of around 200 public home units and a little over 450 vouchers that will provide private home rent assistance. They also stated that it is highly possible that it would take at least half a year before any vacancy can be found and that applicants could be on the waiting list for years without getting a spot. Despite these not so encouraging words, most families, like in the case of the federal housing tax credit, are willing to take their chances.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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