QUESTION

Can it be considered proceeds from a loan (2nd mortgage) an obstacle to apply for a supplemental security income?

Asked on Feb 27th, 2012 on Social Security - Western Australia
More details to this question:
My only income is $750.00 monthly. I need to apply urgently to Social Security for a SUPPLEMENTAL SECURITY INCOME but I have money that comes from a home equity loan made 5 or 6 years ago. I am repaying this loan but my payments go mostly to interests. Can ,therefore, Social Security consider this money as an asset and deny my application?
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1 ANSWER
Answered on Apr 07th, 2012 at 2:16 PM
Let the Social Security Administration tell you if you don't qualify.  I don't think I fully understand from your question if you have an obligation or a resource, so just apply.  Take the following steps. To apply for SSI disability and blind benefits: Complete the online Adult Disability Report or the Child Disability Report; and Schedule an appointment to complete the application for SSI. To schedule an appointment with your local office, call 1-800-772-1213 (TTY 1-800-325-0778) 7 a.m. to 7 p.m., Monday through Friday.  Have your Social Security number available when you call. At the present time, the "application" for SSI cannot be filed online. The website of SSA has a wealth of information.  To learn more about SSI go to http://www.socialsecurity.gov/ssi/text-understanding-ssi.htm    

No attorney-client relationship has been established because of the information provided. Seek local counsel to address your particular facts. MJHJ

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