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Reverse Mortgages 101

What Effect Would A Reverse Mortgage Have On My Benefits?

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The income you receive from a Reverse Mortgage would be treated the same as any cash you receive. If there are income or asset limits to a particular benefit, the amount of the benefit may be affected. For example, the proceeds can affect eligiblity for Supplemental Security Income (SSI) and Medicaid. It will not affect Medicare or Social Security Disability or Social Security Retirement income.

NOTE: If you take a line of credit under the Reverse Mortgage rather than cash, the line of credit as such should not affect your ability to receive benefits which are needs based. The situation of course changes when you actually receive the cash.


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