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  • A reverse mortgage can impact your eligibility for medicaid. If you are receiving medicaid, please investigate carefully whether or not a reverse mortgage will raise your income or assets enough to take away this valuable program.

    Medicaid usually offers its benefactors long term care coverage and other valuablel benefits that you probably would not want to lose in exchange for the funds from a reverse mortgage.

    I would suggest that you learn about the eligibility requirements and speak with a medicaid expert about how a reverse mortgage would impact you.

  • Login to rate this answer:   Answered on 1/29/2008
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.