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Reverse Mortgages may be Saving the Government BILLIONS.

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Reverse mortgages were designed to help senior homeowners age in place. While they accomplish that goal for thousands of people today, there’s also a big picture benefit to the reverse mortgage program as a whole: It saves government money on entitlement programs such as Supplemental Security Income and Medicaid. In fact, by some estimates, reverse mortgages could save as much as $5 billion a year—or more—in...
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Reverse Mortgages: Implications to Medicaid & SSI

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Those who are 62 and older who are looking to supplement their retirement income through a reverse mortgage should also consider the implications this decision could have on their eligibility for Medicaid or Supplemental Security Income (SSI). An important and common factor that Medicaid and SSI share is asset level limits, and depending on which payment route a borrower chooses...
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