This post, authored by Claudia Mott, originally appeared on

Q. My husband and I are in the process of closing on a condo under HUD Affordable Housing. My husband was in an automobile accident and will be receiving a small settlement for this accident in a year or two. Will the payout from this accident affect our HUD Affordable Housing income qualification after we take possession of the condo?
— Concerned

A. Congratulations on your new home.

The Housing and Urban Development (HUD) programs that support housing assistance have very detailed guidelines on what is considered income.

Included in the calculation would be wages and salaries, income from a business, interest, dividends, Social Security, annuity and pension payments and even unemployment, said Claudia Mott, a certified financial planner with Epona Financial Solutions in Basking Ridge.

A detailed list can be located on the website, she said.

“There are some forms of income that are excluded and this would include the settlement payment for a personal or property loss,” Mott said. “A few of the other exclusions include inheritances, insurance payments, and student financial assistance.”

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This story was originally published on Oct. 14, 2021. presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.

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