Dallas-Fort Worth Real Estate Investor Club

I have a client that needs to sell her house on owner finance/subject-to before it goes into foreclosure however, her husband is on medicad and the question is - will medicad accept the house as being SOLD even though the loan is still in her name and not cancel her Medicad?

Please let me know if you know anyone I can talk with about this issue.

Thanks

Tim Cook

817-599-8058

Tim,

I have dealt with this issue with a friend/client. The issue with Medicaid beneficiaries selling property is the impact it has on their eligibility. If their income/assets exceed specified limits they may lose their benefits. You can view the Income and Asset Limits for Texas Medicaid Program at http://www.premack.com/links/txmedicaid.htm.

I am not an attorney, have not played one on TV, and have not stayed at a Holiday Inn Express. Your clients should consult with their attorney or Medicaid representative.

Dan Brunner

Realtor/Investor/Consultant

danb@3dmrinc.com

I Ran into this same problem about 3 weeks ago bomber! The Lady and her husband both were on Medicaid and would have lost their benefits if a cash buyer who was sweating at the palms to buy their property paid in full! No Deal!