Posted on: 23rd Feb, 2009 04:22 pm
My mother recently applied for Medicare because she is ill...my father (her husband) is employed and the only financial provider for my mother and young sister. My mother was told that co-signing for a home will affect their eligibility even though they will not be principals nor will they occupy the home. According to the the agent, my father the co-signer can just comeplte a quitclaim deed before escrow closes were he states no rights or previlage on the home. is this correct. should co-signing for a home affect their eligibility?
Please advise
Please advise
Hi mgallardo,
Co-signing can affect medicare eligibility. If your mother has the title to the house only in her name it would help her qualify for the medicaid easily. Thus as the agent had advised, your father can transfer his share in the property to your mother so she becomes the sole owner of the house and qualify for the medicare.
Thanks,
Jerry
Co-signing can affect medicare eligibility. If your mother has the title to the house only in her name it would help her qualify for the medicaid easily. Thus as the agent had advised, your father can transfer his share in the property to your mother so she becomes the sole owner of the house and qualify for the medicare.
Thanks,
Jerry