Medicaid - what is a bank home evaluation?

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The bank just found out the exes mom is on Medicaid. They are sending out an evaluator tomorrow (there is a mortgage and loc on the property). What is the difference between an appraisal and evaluation? Also, why would the bank suddenly do this if payments are up to date?

Answers 1 to 10 of 35

There is a HELOC? So perhaps that are going to evaluate if there is enough equity, post-MERP to allow the HELOC to be drawn on?

I think this is why people do RMs. It's not technically debt; a HELOC is.

Tacy, why is this ANY of your concern?


They made their bed............

Did they talk to a lawyer before doing the LOC?  Were they honest with the lawyer?  They have always sounded like lifelong grifters to me.  You have any thoughts on that?
Oh, I have alot of thoughts. The mortgage and loc (which is with a different bank that I negotiated a 400 pmt w no interest on) were done before the medicaid application. He found out about the eval earlier today and called and asked me to go there and make it look presentable. I said no which became him freaking out and me hanging up. His blood pressure shot up, chest pains and he is back in ER with my mom...his advocate lmao. She called me to tell me not to be so negative and people needing hope. They did all of this without a lawyer and I wont fix things anymore. (And I still have the loan agreement for the 26k in back taxes that wont be paid back because of medicaid. My mom says Im bitter and yeah, I am).
Go team Tacy
Tacy, you're a realist with boundaries and he's Peter Pan. If your mom wants to be Wendy, that's her issue.

I thought his doctor told him to stay away from his family?
The doctor did but his mom calls and calls. She cant call me anymore...i guess she told the social workers, "Stacy has made it clear she wants nothing to do with me". I had to laugh it only took how many years.
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The truth is my degree is in accounting. I dont have a CPA, do not like dealing with the IRS and taxes bore me to death. I do have a CMA, I am really good with strategy and cash flow...i look at numbers and can project a year out in my head. I spent months fixing tax problems and fixing their stupidity and I dont have the energy or patience to do it again.
Is exes Mom in a NH or on Medicaid for insurance and home care?

I would think the mortgage company is covering their tails. There's an equity loan out there, correct? They probably want to make sure the house is being kept up so they will get the money back they loaned out.
Joann, there is a mortgage through one bank and a LOC through another. She is not in a nursing home but receives Medicaid for home based services. Not one of the entities will be able to recoup what they are owed due to the fact the property is located within the flood plain and the land is contaminated from petro chemical and auto companies dumping for so many years in the river. In order to sell the property a phase 1 environmental which costs about 10K would need to be done, then a phase 2 and those cost about 25k plus clean up. I didnt grow up in the area and I do not eat game but when the DEQ made one company test the property and do blood samples, I have elevated dioxin levels from having a plant based diet grown on the property and the company has tested my blood for the last 8 years. No one will recoup anything.
Tacy, did the bank tell boyfriend that this had to do with Medicaid? Or is his mom selling house?

I googled Bank home evaluation and discovered that a home evaluation is an appraisal and inspection rolled into one (at least according to the site I found) and is used in setting a price for sale and for getting "comps" for the sale of other homes in the area.

So, I'm wondering if BF heard directly from the bank "we're coming out to evaluate your mother's home because it's gotten back to us that she's on Medicaid" or if (and this seems FAR more likely to me) that Grifter mom has some new scheme up her sleeve to make money and leave BF high and dry and homeless.  Like selling the house.

Or if it's something altogether different; his mom called him to reel him in with some BS that she's made up.
He heard it from his Mom it was over Medicaid but had a voice mail from the bank that just said they were going there today. I took the back way into work today and drove by. It looks like they are doing some type of cleanup, energy infrastucture upgrade. The wooded areas on the strip of road are leveled and there are big piles of wood chips. There are big orange Lshaped poles that go from the river, across the road as far as I could see. The one house down the roads barn was leveled and a pole there. I am thinking it may be an eminent domsin issue.

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