QUESTION:

Reverse Morgage

If were both on Social Securiy, can one of us have a job and still qualify for Reverse Morgage.
Thank you
asked by Rita, 9/29/2008
Categories: Jobs for Retirees, Work and Retirement
ANSWERS:
Answered by: Editorial, 09/29/08
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One of the many positive things about a Reverse Mortgage is that securing one is not dependent on your income or assets.

You need to be careful though if you are eligible for Medicaid (Medicaid -- low income assistance... not Medicare). Extra income from a Reverse Mortgage could potentially exclude you from eligibility for Medicaid and maybe other low income assistance.

Learn more about Reverse Mortgage eligibility here:
https://www.newretirement.com/Services/Reverse_Mortgage_Who_Should_Consider.aspx

Or, if you wish to speak with a prescreened Reverse Mortgage lender, NewRetirement can connect you with one here:
https://www.newretirement.com/Services/Reverse_Mortgage_Advice.aspx

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