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Arthur Rubin
Arthur Rubin, Tax Preparer
Category: Social Security
Satisfied Customers: 1493
Experience:  Over 20 years experience in tax preparation, including some multi-national Social Security applications.
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im 47 and cant retire till im 62 0r 67 my question is can

This answer was rated:

im 47 and cant retire till i'm 62 0r 67 my question is can i use my already saved social security retirment money for a downpayment on a home. just not sure my money will be there when i reach 62 or 67 thanks

Arthur Rubin :

Thank you for using Just Answer.

Arthur Rubin :

I'm afraid you cannot use SS income as a down payment on a home, or assign it in any way.

Arthur Rubin :

Under the law, the money will be there, but you cannot predecide that you will start taking it at a specified age, nor can you assign or encumber the income.

Customer:

can i barrow against it ?

Customer:

i'm going through a chapter 7 and trying to get back on my feet again

Arthur Rubin :

In general, no. In theory, you could borrow against it, but you could not assign it to the lender, so it seems unlikely.

Customer:

do i get charged for each question that i ask you?

Arthur Rubin :

You only get charged when you rate an answer or conversation; I consider all of this one question and clarification, so far.

Arthur Rubin :

I'll let you know when I consider it a new question.

Customer:

hey thanks for all your help

Arthur Rubin and 2 other Social Security Specialists are ready to help you