What is the name of your state (only U.S. law)? New York
I would like to know if I qualify for Medicaid. I own a small house that I rent out for $2600 a month. I pay a mortgage of approximately $1900 a month. The $1900 consists of 3 parts:
1. principal: $550
2. interest: $700
3. escrow: $625
I was told that on my NY State of Health application, I could deduct only the interest part, so that my monthly income would be $2600 rent minus $700 interest of mortgage = $1900. (Note: I am not working currently, so this accounts for nearly all of my income.)
So if this is the right calculation, I would be earning too much to qualify for Medicaid. Is it the right calculation for my income?
I would like to know if I qualify for Medicaid. I own a small house that I rent out for $2600 a month. I pay a mortgage of approximately $1900 a month. The $1900 consists of 3 parts:
1. principal: $550
2. interest: $700
3. escrow: $625
I was told that on my NY State of Health application, I could deduct only the interest part, so that my monthly income would be $2600 rent minus $700 interest of mortgage = $1900. (Note: I am not working currently, so this accounts for nearly all of my income.)
So if this is the right calculation, I would be earning too much to qualify for Medicaid. Is it the right calculation for my income?