Ask Social Security Questions and Get Answers ASAP
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.