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Are they experiencing any memory loss?
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Acknowledgment of Disclosures and Authorization
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
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V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
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Mostly Independent
Your loved one may not require home care or assisted living services at this time. However, continue to monitor their condition for changes and consider occasional in-home care services for help as needed.
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First, I would not ask a person who maybe ready to enter any kind of care to co-sign for me. If the one buying the house does not pay the mortgage, then the co-signer is responsible for the debt. I would also wonder why a mortgage company would allow it.
Medicaid does not allow a person to have more than one property. Recipient keeps the one they have actually lived in and the rest have to be sold. If the co-signer is not on the deed as an owner, I don't see a problem. I just don't think itsright to ask it of someone who can't even pay for their care. And if they can't afford care then I don't see where a Mortgage company would allow them to co-sign. If they are just living on their SS and maybe pension, they can't afford to make a payment if they have to.
IMO, if the person buying a house needs a co-signer then they should not be buying a house. Means your credit is not good enough or you do not have enough money down.
I agree that it makes no good sense that a person entering a facility would be someone to co-sign a loan. I also agree I cannot imagine a mortgage company would allow it. Medicaid, in most states, has a 5-yr "look back" period on the financial portion of the application, so this would probably be "seen".
You never get done spending money when you own a house. A lot of times things come up that are a surprise and not budgeted for. My son just had an unexpected $3K plumbing bill to replace rusting and leaking metal pipes in his old home when things started to back up into his lower level. Even though he as a home warranty contract, they are giving him a hard time reimbursing him, and taking a long time to do it.
This is a question for Medicaid itself, so give them a call. I know that certainly you CAN own a home and a car. There will be clawback on same after your passing to get some medicaid recovery.
As to the co-signing, it would matter if you are on the deed of this home in some way, and recently Igloo posited here that often you ARE added to home ownership paperwork in some way upon co-signing a loan for real property. So it is important to have an attorney check all paperwork to make certain you were added only to paperwork for person responsible to pay loan if principal defaults.
When you need Medicaid--when you can qualify--generally you have no funds left. Most often, no lender can collect your SS so that money would go to the nursing home and Medicaid would supplement the cost. Were the principal on the home loan to default, and you were to die with a home, and the mortgage company had a judgement on you, they couldn't collect in your lifetime, but after your death there would be a race to your home to grab it. That's not your problem and Medicaid would win the scramble.
See an elder law attorney about this question if Medicaid cannot assist you in answering. You don't want to depend upon strangers (that's me) on a Forum for important legal and/or financial advice. Best of luck.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
Medicaid does not allow a person to have more than one property. Recipient keeps the one they have actually lived in and the rest have to be sold. If the co-signer is not on the deed as an owner, I don't see a problem. I just don't think itsright to ask it of someone who can't even pay for their care. And if they can't afford care then I don't see where a Mortgage company would allow them to co-sign. If they are just living on their SS and maybe pension, they can't afford to make a payment if they have to.
IMO, if the person buying a house needs a co-signer then they should not be buying a house. Means your credit is not good enough or you do not have enough money down.
You never get done spending money when you own a house. A lot of times things come up that are a surprise and not budgeted for. My son just had an unexpected $3K plumbing bill to replace rusting and leaking metal pipes in his old home when things started to back up into his lower level. Even though he as a home warranty contract, they are giving him a hard time reimbursing him, and taking a long time to do it.
Kathy, thats true but if itsceven thought a person may need Medicaid, that person should mot be gifting or co-signing.
I know that certainly you CAN own a home and a car. There will be clawback on same after your passing to get some medicaid recovery.
As to the co-signing, it would matter if you are on the deed of this home in some way, and recently Igloo posited here that often you ARE added to home ownership paperwork in some way upon co-signing a loan for real property. So it is important to have an attorney check all paperwork to make certain you were added only to paperwork for person responsible to pay loan if principal defaults.
When you need Medicaid--when you can qualify--generally you have no funds left. Most often, no lender can collect your SS so that money would go to the nursing home and Medicaid would supplement the cost. Were the principal on the home loan to default, and you were to die with a home, and the mortgage company had a judgement on you, they couldn't collect in your lifetime, but after your death there would be a race to your home to grab it. That's not your problem and Medicaid would win the scramble.
See an elder law attorney about this question if Medicaid cannot assist you in answering. You don't want to depend upon strangers (that's me) on a Forum for important legal and/or financial advice. Best of luck.