Example: if someone who is 62 and has only social security and a small pension, both of which total $1400 a month, are they eligible to apply for an adult living community apartment. There are some around that admit those 55 and over, but have financial criteria to be met. Why do they require you to give all your financial information,along with any life insurance and cd and ira accounts. I thought that if you met the age requirement and was on social security and could pay the monthly rent,that would be all that is necessary.
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2 responses so far ↓
1 Patricia C // Nov 1, 2008
If you are talking about a complex that receives government funds, because you might have ten million dollars socked away somewhere and they want to reserve spaces for those who can’t afford to live someplace else.
2 tkahrs12122 // Nov 1, 2008
These are privately owned developments and receive little if no government funds. Residents must have enough income and assets to pay their own way. You need to search out government funded housing for that low income. Check with the Dept of Housing in your area. They should have the list and how long the waiting list is. Most places the wait is two to three years.
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