• Question
  • Am I eligible for VA benefits, such as help on rental to Senior home such as where I am now living?

    Asked by a 90 year old man from Baton Rouge, LA on 3/4/2013

    Am I eligible for VA benefits, such as help on rental to Senior home such as where I am now living? Otherwise, is a reverse mortgage more beneficial; if so, is it possible my "single parent" daughter (one nine-year old) would probably want to remain in house (currently paying rent far too low!) . . . .?

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  • Categories: Military and Veterans Benefits, Reverse Mortgages, Housing, Pensions and Retirement Benefits

Answers

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  • Steve 

    Steve 
    NewRetirement

    San Francisco, CA

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  • Hi,

    You should check with the Veterans Benefits Administration to find out what housing benefits might you might be eligible for: http://benefits.va.gov/benefits/

    A reverse mortgage might help you, however once you leave the house - your estate or heirs must pay off the reverse mortgage debt - your daughter could not continue to live in the home under your reverse mortgage once you are no longer living in the house.

    You may want to try our holistic retirement calculator to see if it helps you identify other alternatives.

    https://www.newretirement.com/retirement-calculator/default.aspx

    Hope this is helpful.

  • Login to rate this answer:   Answered on 3/5/2013
**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.