How to Verify Cash Value, Income of Foreign Bank Accounts, CDs

In HUD-assisted programs there is no asset limit for participation. However, the definition of “annual income” includes net income from family assets. And net family assets include monies held in savings and checking accounts in the United States or abroad. As a site owner or manager, you must ask the resident you are renting to whether he has a bank account (such as a savings account, checking account, money market account) or a certificate of deposit (CD) in a bank located in a foreign country.