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If you really want this lottery to go through and you are nervous, I would withdraw everything from the savings account, leave it underneath my mattress and only leave 20 bucks in the account.
For my lottery, I was literally at the end of the finish line and they all of a sudden started to ask about my savings account for NO REASON which should have been done from the beginning, so I told her I had 20 bucks in there, it was put on the application and we moved on with our lives. She asked: THATS ALL?? I replied: YES!!! THATS ALL!!! I leave 20 bucks in there to keep ACTIVE. We moved on and I moved into the lottery building.
If I were you, I wouldn't give them too much leverage to give them reason to deny you.
So this crossed my mind but on the email that had the list of documents we need to provide, they are asking for 6 months worth of savings account statements. I would think that seeing a withdrawal from savings for a large amount of money/all of it would look suspicious?
Any idea if they add all of your savings to your income figure or just a certain percentage?
because if its the rumored 2%, we would be perfectly fine and within the income bracket for our family size. If they take all of the savings account balance and apply it to our income, we are screwed.
ARE YOU A low or middle income lottery? They didn't even ask me for bank statements, but they wanted to verify if I have a checking or savings account. My lottery was 2 years ago and they've become more strict since then and even more strict for low income lotteries. Mine was a middle income lottery.
Mine didn't even ask about 401K or stocks and pensions, but all the new lotteries since 2014 do ask that now.
Hi, this thread has been very helpful. I received an email to come in for an interview (I submitted an application September 2015). The building is one that is constructed through the Mixed-Income Program. I am assuming I was selected to be interviewed for a middle-income unit. My concern is: (1) do you know if we would have to move in right away if selected? I would have to break my current lease which could potentially be a problem; (2) my boyfriend would eventually move in when his lease is up but he makes significally more than myself and so if I were to renew my lease in a year after signing and add his name, do you know how much rent can go up by? Is there a regulation that limits how much it goes up by?
I'm just trying to weigh the pros and cons and debating whether it is worth the hassle of gathering all my documents and moving around especially since I've moved multiple times already within the last 5 years in NY. Thanks so much.
Can I still get an apartment that my current income qualifies for if I made more money on my last year taxes? I don't work for the same company any longer. Thank You
Can I still get an apartment that my current income qualifies for if I made more money on my last year taxes? I don't work for the same company any longer. Thank You
They may deny you if your last year's income is higher. You would have to convincingly explain that salaries in your field have declined, and you will not be able to make that high a salary in the future.
They are trying to prevent people from temporarily taking a lower paying job just to qualify for the unit and then go back to making the higher salary.
If you read the Marketing Guidelines, the concept is known as "future need."
I was recently randomly selected for BAM South with a log number in the low 2000s. I have no idea what that log number means - were 2000 other people randomly selected before me or is every submission given a log number regardless of whether they are selected or not?
Also, for anyone who has gone through this process - do they go over your bank statements to check for regular rent payments, etc? A couple times I paid in cash so it won't reflect on my bank statement. Just wondering how in-depth they go with the bank documents.
Thanks everyone for the great info!
They go over your bank statements to check for unreported assets and sources of income you may not have told them about. That's what they're looking for. They'll ask you to write out where certain payments or transfers into your account came from and what they were for -- even if it's obvious from what's on the statement. They're not looking for whether you pay your rent or other bills on time. The log number is the order you came up in the lottery. If you live in the community board, 2,000 is an excellent number.
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Re: significant others moving in after signing
