Three of the Most Attractive Affordable Housing Options

COVID-19 may make people think that they are going to be forced on to the streets, but fear not, as there are many options for you to choose from if you are in a financially tight situation.

  1. Housing As a Social Service

Social welfare is endless in providing to those who are in need and one such program that is currently helping many is public housing, which is basically a housing assistance option that is government-owned or owned by legally registered non-profit organizations.

  1. Section 8 Assistance

As per requirements specified on the HUD website, you may be entitled to get Section 8 Assistance which provides vouchers to those who qualify. The program is known for being extremely flexible, since you can move to any property where the vouchers are considered as an acceptable form of financial assistance.

  1. Subsidized Private Residential Properties

Believe it or not, there are good Samaritans out there and some even in the private sector. Some private property owners have made agreements with the government to provide subsidized housing for those who need it the most. Owners are thereby compensated for the difference in a variety of ways.

What Else Can You Do

The sad reality is that the government can’t always provide assistance for everyone because not all who apply qualify and the government does not have endless resources at their disposal. If you’re in a bind and yet do not qualify for any above mentioned programs, please consider the follow options:

  • When looking for a property, you can significantly reduce the price if you get one that has less bedrooms and amenities. The goal is to specifically look for that which you need rather than what you want.
  • You could look into getting a Federal Housing Administration (FHA) loan (FHA), but take note that the assessment requires that you have a good stable employment history and a reliable credit record, in addition to a number of other factors that are needed to qualify.
  • If you are interested in a house that you are eventually aiming to own but you don’t have the money for it, you can sign a rent-to-own agreement with the seller. This is especially useful if you have bad credit and won’t be able to immediately qualify for a loan. The agreement allows you to spend a period of time living on the property as a tenant, which gives you a window of opportunity to improve your credit score just enough to eventually qualify for a home loan to help you buy the house.

At Risk of Being Homeless?

If you’re in an emergency situation and are at risk of being homeless, then temporary transitional housing is definitely one of the best programs that would be best to help you out of this situation. Temporary transitional housing is a nationwide initiative that seeks to provide temporary shelter to those who could either become homeless or are in transition to a permanent home, but need a place to stay, due to domestic abuse. There are a number of different organizations involved in this effort that involve both government and non-profit organizations. Government agencies, religious charities, and shelters across the country have joined forces to help out the victims of domestic abuse and homelessness. Though currently the situation requires more fiscal contributions from the federal government, many have taken on the task of helping as many as they can with limited resources.

As far as eligibility requirements go, it should be noted that the temporary transitional housing program is designed to give shelter to as many people who need it as possible and people could end up homeless for various different reasons. With a tanking US economy, many are in a tight financial situation with rampant layoffs and the pandemic spreading fear and uncertainty to everyone. Eligibility is determined based on the local requirements that every organization determines based on the needs of their local community. Some of these organizations generally require that you fit into a certain income category and that you have not been involved in violent crimes or sexual offenses.

Some also speculate as to whether the organizations offer just housing or temporary shelter and the answer is quite simply that it varies from organization to organization and the individual needs of each specific area. There are those who need more support than just shelter. Some require therapy if the person is a victim of domestic abuse in any of its forms and was forced to leave the environment that he/she was in. Others may also need a job and/or financial support, but sometimes these needs are not within the scope of the organization’s services. In this situation, it’s a good idea to plan ahead and apply to other programs, such as the Temporary Assistance for Needy Families (TANF) program which provides other forms of assistance.

If you are in trouble and about to become homeless, then these are the following suggestions that we recommend for you:

  • Do research on local shelters and learn about their conditions for entry. If you have a family with children that need to stay with you, try to do research to see how many people they are allowed to admit.
  • Read the reviews about each shelter that you choose to settle in. Sometimes the reviews that you get are not the best, so it is important that you choose to settle down in a place that is safe.
  • Come up with an escape plan. Even though their allowing you into the shelter may be generous, most temporary transitional housing facilities only allow you to spend 3 to 6 months and in some cases 6 to 9 months (depending on the state and the individual policy of the shelter). If you’re out of a job, get started on trying to find a new one soon.