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Unfortunately we did not have anything set up. The home is not worth as much as what medicaid will pay and I would like to buy the house since it is the one my mom and dad had. Can it be done?

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I don't see why not. Be advised I am in no way an expert, but sort of going down the same street. More than likely Medicaid will or has placed a lien on the home. You can pay the lien and buy the home, or more than likely the lien is more than the home is worth. In that case you will have to go to the auction and buy it like anyone else. ALSO, if you do buy it now, it is likely your mother will have to 'spend down' that money before medicaid will resume paying for care. Your best bet is to pay a few dollars and consult an attorney that deals in this area.
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Get in touch with an Elder Lawyer. My sister and I met with one regarding our Mom. We were instructed that should she have to be placed in a facility, we could keep Medicare from taking her home by investing in just 1% prior to her funds being exhausted. I hope you are able to purchase your family home.
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Definitely see an attorney who specializes in Elder Law. (Not a cousin who does Family Law or the neighbor who is a corporate lawyer. The specialty is critical.)

I'm sure that you can buy the house, at fair market value, but you'll need a lawyer well-versed in Medicaid's complicated rules to do it in the most advantageous way.
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