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31. Melanie Samuels owned a house worth $250,000, and there was no mortgage balance. She recently sold the house to her son for $100,000. Her son paid all realtor fees and transfer costs. The PHA must:
32. Danielle Prior received $3,000 in lottery winnings. She bought a car for $2,900 and spent the remaining $100 on clothes. At her next annual reexamination, what is the total cash value of her lottery winnings that is to be treated as an asset?
33.When the cash value of the family’s assets is less than $5,000, the actual income from assets is used.
34. The cash value of a certificate of deposit is ALWAYS equal to the balance in the account.
35. The PHA- determined passbook rate is used only to determine imputed asseet income when the cash value of the family’s assets is more than $5,000.
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