Anyone done a Reverse mortgage with Medi-cal asset situation?

[Lostbytes]

I was told that I could get an reverse mortgage line of credit that sends electronic payment to our checking acct. Sounds fishy as Medi-cal does ask for checking statement on annual renewals. It would put us over the California Medi-cal exemptions of assets. Or, is there a trick that I'm not understanding?

 

[Sliverfox]

Beleve it meams that when you die the bank gets your house to sell to recoup the money.

 

[Aunt Bea]

IMO this is too serious a question for an internet forum.

I would encourage you to check with an attorney or your local legal aid before doing anything that might put your home or your Medi-Cal benefits at risk.

Good luck!