Re:Mortgages are a manufactured product
by PaulDavisThe1st on Friday January 14, 2022 @03:15PM
(#29939767)
According to the American Council on Aging, "In most cases, one’s home, home furnishings, and vehicle are exempt." (from the asset test).
[ Parent
| on HN ]
Re:Mortgages are a manufactured product
by dionidium on Friday January 14, 2022 @03:41PM
(#29940135)
Yes, from the asset test required to qualify you for Medicaid. But if you enter into a nursing facility, for example, then they'll place a lien on the property and collect if the house is sold while you're alive or from your estate when you die (assuming there's no living spouse).
You really want to have a plan for your primary home before this becomes an issue. The asset test is only one concern.