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User Name:
Bomar1224
(member since 8/8/2009)
Posts:
0 Questions and 7 Answers
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Inheritance is not earned income. It should have no effect on your social security. You will have to...
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Inheritance is not earned income. It should have no effect on your social security. You will have to pay an inheritance tax on your inheritance. So before you get the inheritance, the government will have their hand out for money. Earned income is where you go out to get a job to make more money. Up to a certain age that will affect your social security. I retired at age 60. I could not even draw social security until I was age 62 and then I was not allowed to earn unlimited income until I was age 65 without it affecting my social security.
In addition to what I have already said, I would suggest you get in touch with Reverse Mortgage bro...
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In addition to what I have already said, I would suggest you get in touch with Reverse Mortgage broker.
Your permanet disability qualifies you for medicare. Your age does not qualify for a reverse mortg...
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Your permanet disability qualifies you for medicare. Your age does not qualify for a reverse mortgage. You have to be 62 to qualify for the reverse mortgage. Sorry, you will just have to wait about three more years.
Yes they can. Social Security money once it is in your bank account is income like any other money...
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Yes they can. Social Security money once it is in your bank account is income like any other money. However, they can only take 15% of your total monthly income. each month until the debt is paid off. You can pay more on the debt if you want to; but 15% is all the creditor can take out each month. So if your total monthly incom is $2000, the total amount that your creditor could take out would be $300, This is just an example. It would probably help your credit report to pay more if you can.
From what you say, it is my understanding that the judgment came after you already had your reverse...
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From what you say, it is my understanding that the judgment came after you already had your reverse mortgage. No they cannot force you to sell or give up your reverse mortgage. What will happen is that when you pass on or have to give up your home for health reasons, the home will be sold and all liens must be satisfied before any heirs will get any money. The only other thing that the people who gave you the judgement can do is garnish your income. Then they can only take 15% of it each month until the judgment is satisfied. I am not sure about social security income. I don't believe they can touch that. If you are getting social security, you better check with them on that. Although, when it goes in the bank it is treated like any other income.
Do not place a manufactured home on leased land. You will most likely not get your reverse mortgag...
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Do not place a manufactured home on leased land. You will most likely not get your reverse mortgage. Why when you own two homes would you want to live in a manufactured home on leased land? If you want to live in a manufactured home buy it where you own the land. I would suggest you sell one of your homes outright and pay cash for your manufactured home and land and then get your reverse mortgage. That way you will be paid by the mortgage company a monthly check for your manufactured home and live in that home for the rest of your life. Otherwise, if one of your other homes has a good foundation, insulated walls with the good insulation, not the stuff that causes lung problems, and you have thermopained windows, you might be able to get a reverse mortgage on your home. Check with a Reverse Mortgage broker, he is best able to advise you what to do. I know homes are not selling fast, but it is not like you will be put out on the street. You can live in your other house until one of the homes sells. Whatever you do, don't by a Manufactured home on leased land. I repeat DON'T.
As far as I know, you cannot receive medicare until you reach retirement age; unless you have been...
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As far as I know, you cannot receive medicare until you reach retirement age; unless you have been granted a disability retirement. If you are placed on disability retirement, I think you would qualify for medicare.
About Me:
Male
Married
When I will retire:
I retired in June 1996
My pre-retirement occupation:
Education
What I want out of retirement:
The love of my marriage and th
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Male Married When I will retire: I retired in June 1996 My pre-retirement occupation: Education What I want out of retirement: The love of my marriage and th