December 1973 Eligibility Requirements

1025.015.14.01 Reverse Mortgages

IM-32,  March 12, 2013

Reverse mortgages are considered a type of bona fide loan and are not considered as income or a resource for the month the payment is received. Payments from a reverse mortgage may be received in a lump sum or in monthly payments. If any funds remain from the reverse mortgage payment in the month following the month of receipt, the remaining funds are considered as an available resource.