Posted on: 29th Apr, 2010 07:26 pm
We are in the process of applying for Medicaid for my mother. She currently has a reverse mortgage. If we do a Ladybird deed, would this protect her home from the Texas Medicaid recovery program? Would she be penalized - waiting period and/or disqualified? Does it matter if she has the Ladybird deed done before/after applying for Medicaid? She will probably remain in long term care for a while.
Welcome dbvillarreal,
As far as I know, a ladybird deed will not affect your mother's eligibility to qualify for a loan. If your mother or any of her relatives or spouse stays in the property, then the Medicaid may not be able to go for an estate recovery.
In my opinion, it would be a better option to go for a ladybird deed before applying for Medicaid. Your mother can contact a real estate attorney and take his opinion in this regard. He would help her in a better way.
As far as I know, a ladybird deed will not affect your mother's eligibility to qualify for a loan. If your mother or any of her relatives or spouse stays in the property, then the Medicaid may not be able to go for an estate recovery.
In my opinion, it would be a better option to go for a ladybird deed before applying for Medicaid. Your mother can contact a real estate attorney and take his opinion in this regard. He would help her in a better way.
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visit our site by search for reverse mortgage lenders direct.
visit our site by search for reverse mortgage lenders direct.