Posted on: 02nd Mar, 2009 04:48 pm
My mom recently approached me on the topic of transfering her house to my name. she is under the impression that Medicare can take the house if she gets ill as payment. this house means a great deal to my family and we dont want to lose it to some hospital bill. there is a small mortgage on it and I have good credit, what will happen ther, with the mortgage? I already have a mortgage on my house and dont think I will qualify for annother new mortgage. what should I say to the bank? Thanks Chris.
consult an attorney who specializes in estate planning.