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Form 4421 for Palmdale California: What You Should Know

Phone Number: | Fax Number: | Email: PALMDALcityofpalmdale.gov TIP: This page will be updated as the IRS finalizes the regulations by Jan 1, 2022 and begins to execute tax forms for this program and other local rent assistance programs. The Section 8 Tenant Reciprocity Pilot Program (TAP) is the largest community-focused rent-to-own program in the country. In 2010, over 1,500 homeowners took advantage of this program to purchase their rental homes at a significant discount. As part of this public-private partnership, our rent assistance partners are not liable for paying back any funds that renters do not qualify for under Section 8 of the United States Housing Act of 1937. In order to be eligible for the program, the owner of the property must meet the following conditions: · The residence, as of the date of the sale, has been occupied as a principal residence of the owner for the three years preceding the date of sale and remains such. The property will have some form of active ownership, such as a mortgage or deed of trust or is in the process of becoming such · the property is purchased entirely with a cash purchase, or the home is purchased with either low-interest home equity financing or government-provided housing assistance; no credit will be given for the purchase price of the property. TAP applicants are eligible for a 25% reduction off of the purchase price when compared to the median home value in their Area. The Housing and Community Opportunity Act (H.R. 2594), introduced by Rep.

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