| Author |
Message |
|
|
 laurabethchavez1986
Joined: 24 Aug 2009
Posts: 1
1.00 Dollars($)
|
 Posted: Mon Aug 24, 2009 8:31 pm Post subject: FHA housing loans |
|
|
| My grandmother has an FHA house on land she has had for over 50 years. She is still paying her monthly mortgage payment every month. She is now going into an elderly living center, and the state wants to take the house to pay for her care, even though she is on Social security disability, and receives medicare or medicaid. Can myself and my husband take over the payments, and assume the mortgage to keep the property in our family? |
|
|
smithsussane
Joined: 18 Sep 2008
Posts: 4484
Location: Alaska
435.29 Dollars($)
|
| Posted: Mon Aug 24, 2009 10:34 pm Post subject: |
|
|
Hi laurabethchavez!
Welcome to forums!
If your grandmother transfers the property to you now, she may not remain eligible for the medicare or medicaid. However, you can contact a lawyer and check out the option of ladybird deed. Transferring property through ladybird deed will not make your grandmother ineligible for the medicaid benefits but she will have to declare it that she would return to the property after her treatment or else, her spouse or any close relative should stay in that property.
Feel free to ask if you've further queries.
Sussane |
|
|
bellyadams
Joined: 24 Aug 2009
Posts: 8
0.12 Dollars($)
|
| Posted: Tue Aug 25, 2009 12:55 am Post subject: |
|
|
yes, ladybird deed will be best option to get transfer property on your name.
after property transfer you both will be responsible for paying further dues to company. |
|
|
