How To Document The Annual Income Of An Applicant Who Owns A Home

Duration: 60 minutes Speaker: Patricia Murphy

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ABOUT THE EVENT

In depth review of the process for correctly documenting the eligibility of an applicant that owns a home. 

Areas Covered:

  • Basic Homeownership concepts
  • Real Estate disposed of for less than Fair Market Value
  • Options and Best Practices for Documenting Market Value
  • Determining Cash Value
  • Determining income from the asset
  • Seller financing/contracts for deed,
  • Reverse mortgages
  • How HOTMA changes will impact the eligibility of households that own real estate

Learning Objectives:

  • Basic Homeownership concepts
  • How to treat real estate disposed of for less than fair market value.
  • Options and best Practices for documenting the market value of real estate.
  • Acceptable documentation to calculate the cash value of a home.
  • How to calculate income from a home that is rented

Who Should Attend:

Affordable Housing leasing professionals

Handouts & Reference Material:

A PDF copy of the presentation will be available for download along with a PDF Reference Guide containing resources.

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Patricia Murphy

Patricia Murphy is an affordable housing consultant located in Austin, Texas. She has over 25 years’ experience in hands on administration of the Housing Tax Credit, Tax Exempt Bond, HOME and Housing Trust fund programs. Patricia retired from the Texas Department of Housing and Community Affairs as the Director of the Compliance Division in 2020. Since early 2021 she has been utilizing that experience and knowledge as a consultant helping owners stay in compliance with TDHCA and federal requirements.

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Very informative. Deliverance was great. She was very knowledgeable about the subject


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It was a well done presentation. I like how everything that was shown to us helps us to be more organized and productive.

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