Co-signer should not be on the deed/title, just the loan docs. If she just guaranteed the loan it doesn't make her an owner. Is this the case?
I would call your local Medicaid office and ask them how it works. But look at your paperwork first so you understand what she shows up on and how, ie co-owner, lien holder or truly just a co-signer, maybe not on deed anywhere, just the loan.
If she is on the title, then Medicaid might decide that 50% of the equity in the home is an asset belonging to your grandmother. If that happens, then what Medicaid will require is that what ever amount of money is involved must be spent for her nursing home costs first before Medicaid will start to pay.
how long ago did this happen? If it was recent enough, There might not be any equity at this time. Do you know what your home appraisal might be? Subtract the mortgage and that is what Medicaid might consider.
it won’t help you now, but get her name off that title. Maybe in the coming years Medicaid may decide to look again and by then you might has equity they will want you to use to pay the nursing home
I would call your local Medicaid office and ask them how it works. But look at your paperwork first so you understand what she shows up on and how, ie co-owner, lien holder or truly just a co-signer, maybe not on deed anywhere, just the loan.
Let us know how it works out.
how long ago did this happen? If it was recent enough, There might not be any equity at this time. Do you know what your home appraisal might be? Subtract the mortgage and that is what Medicaid might consider.
it won’t help you now, but get her name off that title. Maybe in the coming years Medicaid may decide to look again and by then you might has equity they will want you to use to pay the nursing home