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Just got a rejection letter from HDP. Said I had too many assets. This is very unfortunate. My family and I am really struggling here, and I was too responsible and saved up too much money I guess.
So unfortunate! Means something better is awaiting you and your family! Stay positive! Today I received another hiccup and need to submit more documents by Monday! This process definitely tugs at your emotions!
So unfortunate! Means something better is awaiting you and your family! Stay positive! Today I received another hiccup and need to submit more documents by Monday! This process definitely tugs at your emotions!
Thank you for the good vibes! Its tough trying to be self-employed. that's all I gotta say. Always have too much or too little to get any assistance. Best wishes to you!
What’s your family size and did you look at the asset guideline? I don’t think they are punishing you but these programs are regulated under federal law so they have to go by the numbers to a T.
Actually federal guidelines says there is zero assets limits, according to HUD handbook. Asset limits were put into place around 2014 by New York State, I just found out, and have been widely contested for exactly what's happening to me. I am self-employed, I keep my savings for retirement in a liquid brokerage account because of the the seasonality of my work. I never know if I need it. Anyways, my retirement funds are considered assets because of the type of account they exist in. I am arguing my case, but it doesnt look like any hope for me. Middle age, very little saved up money for retirement, but still too much... it's all crazy.
Actually federal guidelines says there is zero assets limits, according to HUD handbook. Asset limits were put into place around 2014 by New York State, I just found out, and have been widely contested for exactly what's happening to me. I am self-employed, I keep my savings for retirement in a liquid brokerage account because of the the seasonality of my work. I never know if I need it. Anyways, my retirement funds are considered assets because of the type of account they exist in. I am arguing my case, but it doesnt look like any hope for me. Middle age, very little saved up money for retirement, but still too much... it's all crazy.
They’re not picking on you because of whatever is in your retirement account. They have to stick with the numbers to a T. It’s not personal. If there are assets limits for your family size and it’s exceeded, they will reject or deny you. The asset limit is in the marketing handbook. The only option you have is to appeal in this case. They program is also regulated federally and by the state but it’s not as personal as you’re making it out to be.
They are diligently working expeditiously so they can process general population! Statt packing!!
All of my things are in storage units. I’m not in a rush to move but I have to repack things anyway so I’ll figure all this stuff out in the next two weeks
They’re not picking on you because of whatever is in your retirement account. They have to stick with the numbers to a T. It’s not personal. If there are assets limits for your family size and it’s exceeded, they will reject or deny you. The asset limit is in the marketing handbook. The only option you have is to appeal in this case. They program is also regulated federally and by the state but it’s not as personal as you’re making it out to be.
Not sure why you think I am making it personal. Just sharing what happened. I have become well versed on the handbooks. There’s a lot of grey areas in there actually. So you bet I will be appealing. The assets that disqualifies our house hold was for retirement, but not held in a traditional retirement account mostly due to the nature of being self employed. Anyways. I still have a glimmer of hope. I need to convince them my assets in one of my accounts was a “dedicated retirement fund”, which it was. Had my wife’s and I life savings; it was the way we decided to save for retirement since we never had special retirement accounts from employers.
Not sure why you think I am making it personal. Just sharing what happened. I have become well versed on the handbooks. There’s a lot of grey areas in there actually. So you bet I will be appealing. The assets that disqualifies our house hold was for retirement, but not held in a traditional retirement account mostly due to the nature of being self employed. Anyways. I still have a glimmer of hope. I need to convince them my assets in one of my accounts was a “dedicated retirement fund”, which it was. Had my wife’s and I life savings; it was the way we decided to save for retirement since we never had special retirement accounts from employers.
You are making it personal. They’re not punishing you for being responsible. They nor the system gain zero from that. All you can do is appeal. If they reject again, you get your answer. If they approve you then congrats. Good luck.
You are making it personal. They’re not punishing you for being responsible. They nor the system gain zero from that. All you can do is appeal. If they reject again, you get your answer. If they approve you then congrats. Good luck.
I am not here to argue. I'm just trying to share what's happened, and what I have learned about the process. there's lots of debate over many of the guidelines in the hand books, and they are not all black and white. That's why I am sharing. I have had success navigated some of the guidelines that might have got me rejected at the start because I educated myself. I've been doing this dance for well over ten years now. I certainly need all the luck I can get. Thanks.
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