retirement as income for section 8 housing

by Marsha
(Lima, OH)

I live in Section 8 housing for 2 yrs+. My retirement has been sitting drawing interest until I am old enough to draw out without penalty. I'm 58yrs old. I can withdraw at 59 1/2 w/o penalty.

My question is: Can my apartment complex suddenly decide to count my retirement account as part of my income? They say it's an asset. Yes I agree w/this but it isn't income in my hand.

I only work a part time job and this retirement made my rent go up almost double. I can't get anyone to answer my question.

Please someone help me.

Wendy: First, this looks like the link to the Lima Ohio Housing Authorities. You might visit or call them and ask specific questions. Think of them in terms of a third party - an agency in between the apartment and the renter. They should have answers and should get involved if need be OR send you to the appropriate agency to help you.

Second, I tried some Google searches for:
-- Section 8 income
-- Section 8 Ohio
-- Section 9 retirement

There is so much out there, and it is complex (like pension plans themselves). I don't know this field and just have no answers. However, there are tons of resources on the internet.. just do some of the searches above. There are HUD guidelines (complex, but readable), sites that answered previous section 8 questions.

Don't Quit -- just because your apartment won't answer you. Keep on doing your research... this could be a correct decision, or an incorrect move on the apartments side. You'll only know if it is warranted when you see it in writing... it pays to use your time wisely.

Approach this as if you are doing your due diligence research, not in a hasty negative manner. That will only make the administration dig in deeper.

You can't lose, you can only win your old rent back.. so why not?

Best Wishes!

Comments for retirement as income for section 8 housing

Click here to add your own comments

Section 8 and income
by: Anonymous

I live in a section 8 complex now for 13 years.
HUD uses every bit of money i have in my bankcts. my life ins policy! Cash value". Which is for my burial only.

Nothing is safe when HUD gets involved, at least here where i live. God luck.)

Section 8
by: Anonymous

Those of you who qualify for section 8, why do you complain when your income goes up, your rent goes up?? I lived a conservative life, and saved my money for my retirement... I know of alcoholics who lived a very bad life. Now who should be awarded, the one who saved, are the one who lived a bad life????

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Housing.