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<br />recent regular reexamination of family income and composition since the commencement of <br />homeownership assistance for occupancy of the home. <br />The PHA may pay homeownership assistance payments directly to the family or to a lender on <br />behalf of the family. If the assistance payment exceeds the amount due to the lender, the PHA <br />must pay the excess directly to the family. <br />Homeownership assistance for a family terminates automatically 180 calendar days after the last <br />homeownership assistance payment on behalf of the family. However, a PHA may grant relief <br />from this requirement in those cases where automatic termination would result in extreme <br />hardship for the family. <br />The PHA must adopt policies for determining the amount of homeownership expenses to be <br />allowed by the PHA in accordance with HUD requirements. <br />SAHA Policy <br /> <br />Homeownership expenses (not including cooperatives) only include amounts allowed by <br />SAHA to cover: <br /> <br />Principal and interest on initial mortgage debt, any refinancing of such debt, and any <br />mortgage insurance premium incurred to finance purchase of the home; <br /> <br />Real estate taxes and public assessments on the home; <br /> <br />Home insurance; <br /> <br />SAHA allowance for maintenance expenses; <br /> <br />SAHA allowance for costs of major repairs and replacements; <br /> <br />SAHA utility allowance for the home; <br /> <br />Principal and interest on mortgage debt incurred to finance costs for major repairs, <br />replacements or improvements for the home. If a member of the family is a person <br />with disabilities, such debt may include debt incurred by the family to finance costs <br />needed to make the home accessible for such person, if SAHA determines that <br />allowance of such costs as homeownership expenses is needed as a reasonable <br />accommodation so that the homeownership option is readily accessible to and usable <br />by such person; <br /> <br />Land lease payments where a family does not own fee title to the real property on <br />which the home is located; \[see 24 CFR 982.628(b)\]. <br /> <br />For a condominium unit, condominium operating charges or maintenance fees <br />assessed by the condominium homeowner association. <br /> <br />Homeownership expenses for a cooperative member may only include amounts allowed by the <br />PHA to cover: <br /> <br />The cooperative charge under the cooperative occupancy agreement including payment for <br />real estate taxes and public assessments on the home; <br />Page 15-16 <br />04/01/14 <br /> <br /> <br /> <br />