Reverse Morgage Affecting SS disability benifites

[billhuds]

What is the name of your state (only U.S. law)? Georgia

If I decide to "reverse mortgage" this house, will it affect my SS disability?

 

[LdiJ]

What is the name of your state (only U.S. law)? Georgia

If I decide to "reverse mortgage" this house, will it affect my SS disability?

Maybe. If you are receiving SSDI it will not unless it brings you over the income threshold. If you are on SSI it absolutely will effect you.

 

[billhuds]

reverse morgage income and SS disabilty

Maybe. If you are receiving SSDI it will not unless it brings you over the income threshold. If you are on SSI it absolutely will effect you.

I am currently 2 months shy of 60 years old. I have decided to hire a ss disability attorney in order to initially file for SS disability benefits. I realize that I can file for ss disability benefits without hiring an attorney. But since the SS disability system almost always finds initial applicants "disapproved", then I have decided to "streamline" this process and just do what I would have to do probably anyway.

When I am 62 I have decided to also "reverse mortgage" my home.

Will doing this cause me to loose my SS disability income (assuming that I am approved)?

If "reverse mortgaging" this house would cause me to loose my SS disability benefits, then I would be wasting my money to hire this SS disability attorney.

I live in Georgia. I have a friend in South Carolina who hired this same attorney and he was approved in 9 months.

Also, he was told by the SS Administration that while he was receiving SS disability benefits he could not make more that $1,000.00 a month and still be able to receive his ss disability benefits.

 

[Proserpina]

I am currently 2 months shy of 60 years old. I have decided to hire a ss disability attorney in order to initially file for SS disability benefits. I realize that I can file for ss disability benefits without hiring an attorney. But since the SS disability system almost always finds initial applicants "disapproved", then I have decided to "streamline" this process and just do what I would have to do probably anyway.

When I am 62 I have decided to also "reverse mortgage" my home.

Will doing this cause me to loose my SS disability income (assuming that I am approved)?

If "reverse mortgaging" this house would cause me to loose my SS disability benefits, then I would be wasting my money to hire this SS disability attorney.

I live in Georgia. I have a friend in South Carolina who hired this same attorney and he was approved in 9 months.

Also, he was told by the SS Administration that while he was receiving SS disability benefits he could not make more that $1,000.00 a month and still be able to receive his ss disability benefits.

(Georgia actually approves 30% - give or take - of applications first time around)

 

[BL]

I am currently 2 months shy of 60 years old. I have decided to hire a ss disability attorney in order to initially file for SS disability benefits. I realize that I can file for ss disability benefits without hiring an attorney. But since the SS disability system almost always finds initial applicants "disapproved", then I have decided to "streamline" this process and just do what I would have to do probably anyway.

When I am 62 I have decided to also "reverse mortgage" my home.

Will doing this cause me to loose my SS disability income (assuming that I am approved)?

If "reverse mortgaging" this house would cause me to loose my SS disability benefits, then I would be wasting my money to hire this SS disability attorney.

I live in Georgia. I have a friend in South Carolina who hired this same attorney and he was approved in 9 months.

Also, he was told by the SS Administration that while he was receiving SS disability benefits he could not make more that $1,000.00 a month and still be able to receive his ss disability benefits.

Are you refering to early Retirement SSA ,SSDI,SSI ,or the combined of the last two?

 

[Ladyback1]

I am currently 2 months shy of 60 years old. I have decided to hire a ss disability attorney in order to initially file for SS disability benefits. I realize that I can file for ss disability benefits without hiring an attorney. But since the SS disability system almost always finds initial applicants "disapproved", then I have decided to "streamline" this process and just do what I would have to do probably anyway.

Just an observation: Hiring an attorney for initially applying does not really help (nor does it harm) you. If they are going to deny you, you'll be denied with or without an attorney. An attorney is particularly helpful in the reconsideration, appeals and the ALJ (administrative law judge) periods if it gets to that point.

SSA does not negotiate like other insurance/benefit programs ( personal injury, work comp, etc.) They have very specific criteria for disability. Approval is dependent on age, education, vocational/work history/employability, medical history, diagnoses and future medical issues as a result of those diagnoses. *shrug* it's your money, you need to do whatever you feel is necessary.

 

[Proserpina]

http://www.reversemortgage.org/GetHelp/MostFrequentlyAskedQuestions.aspx#social

Nice little FAQ site.

 

[billhuds]

Reverse mortgage and ss diability

(Georgia actually approves 30% - give or take - of applications first time around)

That site is a good FAQ site. Maybe this is a dumb question.

This site specifically addresses Medicaid or Supplemental Security Income (SSI) and reverse mortgages and also regular SS but does SS disability fall into a regular SS benefit?

I do know that SSI and medicaid are more of a "welfare" benefit and do not apply in this case.

 

[Proserpina]

That site is a good FAQ site. Maybe this is a dumb question.

This site specifically addresses Medicaid or Supplemental Security Income (SSI) and reverse mortgages and also regular SS but does SS disability fall into a regular SS benefit?

I do know that SSI and medicaid are more of a "welfare" benefit and do not apply in this case.

I have no idea why, but they do sort of over-complicate things!

If you are approved medically for disability, one of two things will happen:


1. You have earned enough "qualifying quarters" for SSDI to be paid.

2. You have not earned enough quarters, and instead you'll receive SSI.

(There's actually a 3rd option, where you'll receive so much from SSDI, and then enough SSI to "top off", so you at least get the minimum benefit awarded)


Then look back to LdiJ's post.

 

[billhuds]

reverse motgage and ss disability

I have no idea why, but they do sort of over-complicate things!

If you are approved medically for disability, one of two things will happen:


1. You have earned enough "qualifying quarters" for SSDI to be paid.

2. You have not earned enough quarters, and instead you'll receive SSI.

(There's actually a 3rd option, where you'll receive so much from SSDI, and then enough SSI to "top off", so you at least get the minimum benefit awarded)


Then look back to LdiJ's post.

For the last 30 years I have been an inspector at nuclear power plants; I guarantee that if I am approved for ss disability that my payments will have nothing to do with receiving SSI.

Which brings me back to my original question. Assuming that I am awarded SSDI and no part of it involves getting money from SSI then will this affect my reverse mortgaging my house?

 

[billhuds]

reverse motgaging afecting ss Disability

Are you refering to early Retirement SSA ,SSDI,SSI ,or the combined of the last two?

Since I am not good with acronyms I just spell it out. I was talking about applying for Social Security Disability.

 

[OHRoadwarrior]

No a reverse mortgage will not affect SSDI benefits.

 

[Onderzoek]

For the last 30 years I have been an inspector at nuclear power plants; I guarantee that if I am approved for ss disability that my payments will have nothing to do with receiving SSI.

Which brings me back to my original question. Assuming that I am awarded SSDI and no part of it involves getting money from SSI then will this affect my reverse mortgaging my house?

Social Security retirement and Social Security disability are not welfare programs. Do what you want with your assets.

You would have to report receipt of worker's comp or return to work. Or incarceration, or moving or another few things.