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Buying a house on Medicaid ?
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amother




Darkblue
 

Post Wed, Oct 06 2021, 11:38 pm
We actually bought our house while on nj family care. We got a large amount from relatives as a down payment and were kicked off insurance because case worker counted it as income. The money was never ours as it was not even deposited into our account. Perfectly legal.
That money was not income and the worker knew it but liked to claim it is for all her cases.They even asked us to reimburse them a few months later for the premiums from the month we got the money until the month we renewed.(about $12000 if I remember correctly, it was a long time ago) we appealed in court and won. The lawyer we hired couldn't wait for her to retire!
Bh today we have our house but then I had many sleepless nights. I had a few kids taking expensive medicine.
It was not so terrible at the end, there was a government program, we paid a few hundred dollars for insurance(which was very difficult to do,I admit) and reapplied for nj family care a few months later.
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amother




NeonBlue
 

Post Thu, Oct 07 2021, 12:40 am
NYC is offering low-income, first-time homebuyers $100K toward down payments-- https://www.6sqft.com/nyc-is-o.....ents/
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amother




OP
 

Post Thu, Oct 07 2021, 7:59 pm
amother [ Darkblue ] wrote:
We actually bought our house while on nj family care. We got a large amount from relatives as a down payment and were kicked off insurance because case worker counted it as income. The money was never ours as it was not even deposited into our account. Perfectly legal.
That money was not income and the worker knew it but liked to claim it is for all her cases.They even asked us to reimburse them a few months later for the premiums from the month we got the money until the month we renewed.(about $12000 if I remember correctly, it was a long time ago) we appealed in court and won. The lawyer we hired couldn't wait for her to retire!
Bh today we have our house but then I had many sleepless nights. I had a few kids taking expensive medicine.
It was not so terrible at the end, there was a government program, we paid a few hundred dollars for insurance(which was very difficult to do,I admit) and reapplied for nj family care a few months later.
Would you mind if I ask how the down payment was transferred to your name if there is a limit (at least I have been told so) to 10-15k that can be given as a gift for a down payment ? Did you receive multiple gifts ?
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amother




Thistle
 

Post Thu, Oct 07 2021, 8:05 pm
amother [ OP ] wrote:
Would you mind if I ask how the down payment was transferred to your name if there is a limit (at least I have been told so) to 10-15k that can be given as a gift for a down payment ? Did you receive multiple gifts ?


Are you sure this is the case in every state? I am in Lakewood and in touch with the lrrc about getting their guidance with a first time home buyer loan and they never said anything about a limit.
Yes whoever is giving you the money needs to be prepared to show bank statements, and a letter that they are gifting you the money.
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amother




OP
 

Post Thu, Oct 07 2021, 8:27 pm
amother [ Thistle ] wrote:
Are you sure this is the case in every state? I am in Lakewood and in touch with the lrrc about getting their guidance with a first time home buyer loan and they never said anything about a limit.
Yes whoever is giving you the money needs to be prepared to show bank statements, and a letter that they are gifting you the money.
I live in ny. I guess I will try to find out if the rules are different. Did you consider this whole nj care issue (if it would be removed or not) before you bought the house ? Or did you just assume you can continue with it. (until they caused problems)
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amother




OP
 

Post Thu, Oct 07 2021, 8:28 pm
amother [ NeonBlue ] wrote:
NYC is offering low-income, first-time homebuyers $100K toward down payments-- https://www.6sqft.com/nyc-is-o.....ents/
Thanks a lot I will look into it !
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amother




Darkblue
 

Post Fri, Oct 08 2021, 5:51 am
amother [ OP ] wrote:
I live in ny. I guess I will try to find out if the rules are different. Did you consider this whole nj care issue (if it would be removed or not) before you bought the house ? Or did you just assume you can continue with it. (until they caused problems)

There was no limit to the amount of gift. We got much more than $10000. We did think about the possibility of losing medicaid. Legally we were told we wouldn't but I guess Hashem decided otherwise(with the help of that stupid worker who we had to fight in court!! )
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amother




OP
 

Post Fri, Oct 08 2021, 11:38 am
amother [ Darkblue ] wrote:
There was no limit to the amount of gift. We got much more than $10000. We did think about the possibility of losing medicaid. Legally we were told we wouldn't but I guess Hashem decided otherwise(with the help of that stupid worker who we had to fight in court!! )
Thanks for the info !
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amother




OP
 

Post Fri, Oct 08 2021, 11:40 am
Would anyone here reading this post be able to list any good mortgage brokers with their phone number, so I can get more and accurate info as how to start the whole process ?
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ineedalamborghi




 
 
 
 

Post Fri, Oct 08 2021, 3:10 pm
amother [ OP ] wrote:
Would anyone here reading this post be able to list any good mortgage brokers with their phone number, so I can get more and accurate info as how to start the whole process ?

Chananya manies +1 718-869-0166
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