SSI And Loans

[alex44]

HELP - I don't know where to turn to. I am hoping to get a line of credit against my house as I have only ten teeth and counting, My partner has five cavities, one of which is getting bothersome ( don't even ask me - It' not fun. - as in - yes they hurt more then I let on Esp. after blowing a crown and swolling it.) anyway we have Termites too. We own our home, thanks too family, and that is what I am using for collateral, which scares me to death Because - How will SSI treat this - I CANNOT work - no way - SSI Spotlight says it is a loan so it is a liability - do I have to report it? What About Food Stamps? Not to sound greedy, but will this count as an expense since it is a loan against my house? I will be paying off numerous things, CC'S ,etc.., Maintenance on the house that I cannot do anymore. Do I contact SSI or Food Stamps or let them come to me? a am scared out of my mind as if I cannot repay this (Unlikey) as long s both of us keep our SSI and Food Stamps. Help - very scared. Please reply ASAP before I lose my mind. I already have an anxiety Ddisorder and thank God for My doc understanding that and treating it appropriastely.
Blessings All
Alex44
Skypilot

[Pharmacist.steve]

taking a loan out is not INCOME... you only have to report INCOME

[alex44]

Pharmacist Steve - Sorry it took so long to say "thank YOU" - youare totally right and thank you for replying.
Blessings
Alex44
Skypilot

[Mark N]

Alex, glad to hear you don't have to report as income so you can get the loan without worrying it will hurt your status. It is a shame our medications can cause tooth decay. I am lucky that despite the decay I don't feel pain with mine any more. I hope you gain get the dental work soon and get that pain eliminated.