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Thread: SSI And Loans

  1. #1
    Distinguished Community Member
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    Exclamation SSI And Loans

    HELP - I don't know where to turn to. I am hoping to get a line of credit against my house as I have only ten teeth and counting, My partner has five cavities, one of which is getting bothersome ( don't even ask me - It' not fun. - as in - yes they hurt more then I let on Esp. after blowing a crown and swolling it.) anyway we have Termites too. We own our home, thanks too family, and that is what I am using for collateral, which scares me to death Because - How will SSI treat this - I CANNOT work - no way - SSI Spotlight says it is a loan so it is a liability - do I have to report it? What About Food Stamps? Not to sound greedy, but will this count as an expense since it is a loan against my house? I will be paying off numerous things, CC'S ,etc.., Maintenance on the house that I cannot do anymore. Do I contact SSI or Food Stamps or let them come to me? a am scared out of my mind as if I cannot repay this (Unlikey) as long s both of us keep our SSI and Food Stamps. Help - very scared. Please reply ASAP before I lose my mind. I already have an anxiety Ddisorder and thank God for My doc understanding that and treating it appropriastely.
    Blessings All
    Alex44
    Skypilot

  2. #2
    Distinguished Community Member Pharmacist.steve's Avatar
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    Nov 2006
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    Southern Indiana
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    taking a loan out is not INCOME... you only have to report INCOME
    Pharmacist Steve
    www.pharmaciststeve.com

  3. #3
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    Pharmacist Steve - Sorry it took so long to say "thank YOU" - youare totally right and thank you for replying.
    Blessings
    Alex44
    Skypilot

  4. #4
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    Alex, glad to hear you don't have to report as income so you can get the loan without worrying it will hurt your status. It is a shame our medications can cause tooth decay. I am lucky that despite the decay I don't feel pain with mine any more. I hope you gain get the dental work soon and get that pain eliminated.
    1979 spinal issues, 1993 lumbar microdisectomy L3-4, 1996 360 3 level lumbar fusion L2-5, 1999 open thoractomy fusion T8-9,
    2002 C3-7 herniations and T4-7 herniations, 2004 total disability, a new limited life

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