Quote:
Originally Posted by stella tsakalos
now you do know that if your buying a house,there gonna consider that an assest,and any asset over 2000,can be not good if your looking to keep your benefits? Thats what i was told.and how much was the backpay for the kids,i was approved for ssi and ssdi,and they told me when i get my first ssdi check to go apply on the kids behalf to draw off my work record--
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That is incorrect.
SSI recipients can own the home they live in of any value and the home is excluded from the $2000 resource limit for an individual/$3000 limit for a couple. What does count toward the resource limit is money in the bank, money you have hidden at home under the mattress, a second home, a second car, any kind of investment, things you own jointly with someone else (like co-signing for your adult child's car loan - makes you an owner), and a few other things.
SSDI recipients can own anything. No limits. Now if they own a business, they need to be stockholders, not self-employed.