Reverse Mortgages

Discussion in 'Countable Income' started by Trek161, Apr 21, 2015.

  1. Trek161

    Trek161 Newbie

    In addition to applying for VETERANS' AID AND ATTENDANCE IMPROVED PENSION for my parents (father is a WWII vet), I am also considering applying for a Reverse Mortgage on their home in order to help pay for the cost of their care providers.

    Unfortunately the VA finanical assistance would not be enough to cover all of their expenses. Using a Reverse Mortgage to help pay for the monthly expenses may be necessary to prevent depleting all of their savings (now down to $40K).

    My question is would taking a Reverse Mortgage on their home affect their eligibility in getting the Veteran's Aid and Attendence?
     
  2. vetadmin

    vetadmin Administrator Staff Member

    The Reverse Mortgage does not impact the A&A pension.
     
  3. Trek161

    Trek161 Newbie

    Thank you for the quick response. :)
     
  4. vetadmin

    vetadmin Administrator Staff Member

    You're welcome.
     

Share This Page