How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Phillips Esq. Your Own Question
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Social Security
Satisfied Customers: 18392
Experience:  B.A.; M.B.A.; J.D.
16551887
Type Your Social Security Question Here...
Phillips Esq. is online now
A new question is answered every 9 seconds

I AM ON MEDICARE AND MEDICAID MY HOUSE ID SELLING FOR 40000

This answer was rated:

I AM ON MEDICARE AND MEDICAID MY HOUSE ID SELLING FOR 40000 AFTER ALL SAID AND DONE ILL RECEIVE 34000 WHEN HOUSE MORGAGE PAID OFF OF 29000 THAT WILL LEAVE ME WITH ABOUT 5000 WHICH I WILL PAY CREDIT CARDS OFF WITH THAT MONEY ASAP. MY MOTHER IS GIVING ME HERE EXTRA HOUSE WELL SELLING IT TO ME FOR 1.00. SO I WILL OWE NOTHING ON THIS HOUSE. MY QUESTION I GUESS IS CAN I OWN A HOUSE AND NOT HAVE A MORGAGE AND IT WANT AFFECT MY MEDICARE AND MEDICAID. IF I DONT OWE ANYTHING ON A HOUSE ID THAT CONSIDERED AN ASSET
Hello: This is PhillipsEsq. I am a licensed Attorney and I will be assisting you today.


I AM ON MEDICARE AND MEDICAID MY HOUSE ID SELLING FOR 40000 AFTER ALL SAID AND DONE ILL RECEIVE 34000 WHEN HOUSE MORGAGE PAID OFF OF 29000 THAT WILL LEAVE ME WITH ABOUT 5000 WHICH I WILL PAY CREDIT CARDS OFF WITH THAT MONEY ASAP. MY MOTHER IS GIVING ME HERE EXTRA HOUSE WELL SELLING IT TO ME FOR 1.00. SO I WILL OWE NOTHING ON THIS HOUSE. MY QUESTION I GUESS IS CAN I OWN A HOUSE AND NOT HAVE A MORGAGE AND IT WANT AFFECT MY MEDICARE AND MEDICAID.

Response 1: Yes, it would not affect your continued eligibility for Medicare and Medicaid. Your primary residence is not considered as an asset.

IF I DONT OWE ANYTHING ON A HOUSE ID THAT CONSIDERED AN ASSET

Response 2: No, it is not.

Phillips Esq. and other Social Security Specialists are ready to help you