Can I sell my house if I'm on medicaid?
Medicaid can require individuals to tap any home equity in excess of $500,000 to pay for their own care. They can do this by selling the property, borrowing against the equity or using a reverse mortgage. ChaCha!
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About Home Equity
Home equity is the financial value of a home, minus the amount that is owed for the mortgage. If the mortgage is entirely paid off, then the homeowner's home equity equals the entire market value of the home. If money is still owed on the mortgage, home equity is equal to the market value of the home minus the amount the homeowner still owes on their mortgage.
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