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What is an Income-Based Rental Property?
Income-based rental properties are properties with rent based on the renter’s income. There are several types of income-based rental properties for low-income renters in Tennessee. The most common are:
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What are USDA properties?
Rural Rental Housing Loans are direct, competitive mortgage loans made to provide affordable rental housing for very low-, low-, and moderate-income families, elderly persons, and persons with disabilities.
Am I eligible?
Very low- and moderate-income families; elderly persons; and persons with disabilities are eligible to live in USDA Housing. Those living in substandard housing are given first priority. When rental assistance is used, top priority is given to very low-income households.
Can I Get Help Paying For Home Repairs?
Maybe! There is a program called the USDA Rehabilitation Grants For Senior Homeowners which may be helpful in getting you the money you need to make repairs and modifications to your home.
What does this program do?
Also known as the Section 504 Home Repair program, this program provides: 1) loans to very-low-income homeowners to repair, improve, or modernize their homes, or 2) grants to elderly very-low-income homeowners to remove health and safety hazards from their homes.
What is real property?
Real property is land, property built on the land or permanent improvements to the land or property. The most common type of real property that people own is a home. Personal property may become a part of the real property if it is attached in a permanent way. For example, a furnace usually becomes a part of your home. These attachments are known as “fixtures” in legal terms.
What kinds of real property transfers are there?
There are three ways to transfer property:
What Is Estate Recovery?
Estate recovery is a tool used to reimburse TennCare after the death of a TennCare recipient for the payments made by TennCare to provide the recipient with nursing home or other or other long-term care. Federal law requires TennCare to recover these costs through estate recovery by applying the value of the property left by the deceased to costs incurred by the State to provide care.
What is a reverse mortgage?
A reverse mortgage is a special kind of home loan that lets you convert a portion of the equity in your home into cash.
How is a reverse mortgage different from a traditional mortgage or home equity loan?
Unlike a mortgage or home equity loan, you do not have to make a monthly payment on a reverse mortgage. Instead, the reverse mortgage is repaid when you move out of your home or pass away.
What is the Fair Housing Act?
The Fair Housing Act is a federal law that protects renters and purchasers from discrimination.
What is prohibited under the Fair Housing Act when I am looking to buy or rent?
No one may do any of the following based on your race, color, national origin, religion, sex, family status, or disability:
What is the Uniform Residential Landlord-Tenant Act (URLTA)?
URLTA, sometimes called the Landlord-Tenant Act, is a law that places additional responsibilities on landlords in urban counties. These Responsibilities include providing safe and healthy rentals to their tenants.
What is the Uniform Residential Landlord-Tenant Act (URLTA)?
URLTA, also sometimes called the Landlord-Tenant Act, is a law that places additional responsibilities on landlords in urban counties. These responsibilities include providing safe and healthy rentals to their tenants.
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