Reverse Mortgages Becoming Popular Financial Planning Tool, But Can Impact Your Ability to Qualify for Medicaid

Reverse mortgages have quickly become a popular financial planning tool and there are many benefits associated with this type of mortgage. However, there are some potential drawbacks you should be aware of when it comes to qualifying for Medicaid benefits. This isn’t meant to dissuade you from considering a reverse mortgage, just advice to help you in how to best arrange the method in which you obtain the equity from a reverse mortgage. Here’s how a reverse mortgage works – you take out a reverse mortgage loan and have the option of receiving the home equity through: (1)...