Does The Sale Or Purchase Of A House Affect My Disability Benefits?

Feb 28 2017 - 7:30am

Hi Larry. Got a question. Back in 2015 I sold my home because i was no longer able to care for it. I am disabled. Gave it away really, took a 25,000 loss. I did get 37,000. I purchased a another home with my sister and brother in law. So the money made from my house sale went into another home. My brother in law and I got approved for a loan on this other home that was 160,000. I put up 30,000 and bro in law and sis put up 12,000. Anyway we close and move in. Four month later. Sis said I was no longer needed there, that they could make it on what my bro in law makes. So now Im stuck. I cant buy anything of my own because Im on that note. And they wont refinance. Since I am a owner to, can I list that property? Also with taxes coming up, they are writing off the houses interest. Will this effect me? Im on disability and I dont file taxes because i only draw a little for 13,000 a year.

Hi,

Sorry, but I'm not a lawyer, so I can't help you with your question about property rights. I can only tell you that none of the transactions you mention would have any effect on Social Security disability benefits, but could affect your payment amount or eligibility for payments if you are receiving Supplemental Security Income (https://www.ssa.gov/ssi/). If you are receiving SSI, you should probably report all of this information to Social Security so that they can make a determination.

Best, Jerry