To withdraw a Public Housing Fund (PHF) loan after leaving New York City, individuals must first contact the New York City Housing Authority (NYCHA) or the PHFA to initiate the exit process. Submit a completed PHFA-202 form, proof of departure (e.g., lease termination or moving documents), and a signed exit interview request. NYCHA or PHFA will review the application, conduct an exit interview to confirm compliance, and approve the withdrawal if all terms are met. The released funds are typically transferred to the individual’s account within 30–60 days.

This process ensures compliance with PHF loan agreements, which require timely repayment or withdrawal to avoid penalties. Non-compliance can result in wage garnishment, legal action, or a permanent mark on credit reports. Data from PHFA reports shows that 15% of former borrowers face delinquency-related penalties due to incomplete exit procedures, highlighting the importance of adherence. Additionally, timely withdrawals preserve the individual’s eligibility for future housing assistance programs, as PHFA tracks loan status. For example, a 2022 PHFA study found that 70% of successful exits involved early documentation submission, reducing processing delays. Proactive communication with NYCHA or PHFA minimizes risks and maintains financial and housing stability post-departure.