How does the reverse mortgage proceeds affect my Social Security and Medicare?
Generally, having a reverse mortgage will not affect your Social Security or Medicare benefits*. If you receive need based benefits such as SSI or Medicaid it is advisable to consult with your benefits consultant. You can attain a reverse mortgage and structure the receipt of your proceeds so your benefits are unaffected*. *Consult your benefits expert. The interest on your reverse mortgage is deductible when the interest is paid on the loan (at its completion). Get Your Free Evaluation, Click Here!
Related Questions
- How will the money I receive from the reverse mortgage affect my taxes, Social Security and Medicare benefits?
- How do the proceeds from a reverse mortgage affect Social Security, Medicare or Pension benefits?
- How do the monies from a Reverse Mortgage affect Social Security, Medicare or pension benefits?
