sale of home

Discussion in 'Selling of Home' started by tv44engr, Jul 5, 2015.

  1. tv44engr

    tv44engr Newbie

    We are 11 months into application for A&A.
    We were told to NOT sell Father-in-Law's home during the app process--What happens when he gets approval and payments, then we sell his home (worth approximately $120,000)?
    Is he all of a sudden disqualified??
    He is currently in A.L.F.
     
  2. vetadmin

    vetadmin Administrator Staff Member

    Once the house is sold you will have to disclose the monies received, and yes, it will more than likely put him over the income threshold. All that truly depends on his monthly expenses for care at the
    ALF and what he actually gets from the sale.

    If it puts him over, you will have to wait until her spends down to where he would financially qualify again.

    My question is, why has it been 11 months and no decision?

    I highly recommend contacting his Senator and have them make an inquiry as to the status of his application.
     
  3. tv44engr

    tv44engr Newbie

    Thanks for the quick response!
    We will call Senator James Inhofe's office in Tulsa tomorrow.
     
  4. vetadmin

    vetadmin Administrator Staff Member

    Hopefully that will get some answers for you.
     
  5. thatswrong

    thatswrong Newbie

    that is actually wrong. The money from the sale of a personal home isn't considered income for VA purposes. It is considered a conversion of assets. VA will have to do a net worth determination, asking you to fill out VA Form 21-8049. If the increased net worth is found to be a bar, benefits terminate at the beginning of the next calendar year.
     
  6. VA Legal Team

    VA Legal Team Full Member

    This is correct. What's the difference between the income and the medical expenses?
     

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