My mom has been on Medicaid for years (after dad passed away in 91’).
She took out a reverse mortgage a few years later.
She owes a hefty amount on the RM but she is currently in rehab after taking her 3rd fall.
My mom has a lot of medical issues.
Cancer (untreated), asthma, spinal degeneration, mobility issues & has recently been given a “decional test” by the psych doc who diagnosed her w/dementia.
They are advising I take over as POA (which I do now have) & admit my mom to a skilled nursing / memory care facility.
I have a few questions: concerns about Medicaid & the Reverse mortgage.
According to the RM, if mom doesn’t live in her house for a certain length of time & is going to vacate to the NH, the loan will come due & the house will need to be sold to pay back her balance of what’s owed.
I inherit the house (house is in trust w/me as beneficiary), so any remaining $$ left after RM is paid goes to me.
I thought I read somewhere that if a person has a home & they need to go to a NH, Medicaid will take the home as an asset to pay for their care @ the nursing facility.
But in my mom’s case the RM bank gets 1st priority as far as getting paid.
So my question is will Medicaid come after me & try to take the money (if any) that I should get from the proceeds of selling mom’s house after paying back her RM??