Im getting a inheritance for 33thousand bucks. spending 28 thousand on ahouse.?

Question

wil my lose my sssi disability medicaid and foodstamps that i need for my family to eat and pay utilities taxes and insurnce my wife doesnt work . she not disabled

Answer 1

With the inheritance, no matter what you do with it, you will lose some or all of your welfare benefits.

Answer 2

NY State comes after the money you would inherit and subtacts what they have given you over the years, be very careful.

Answer 3

If you are losing income, I would put down the minimum possible for house. Try getting a VA or FHA loan for 3-5% down. Save your cash unless it helps you get your disability back. If so, talk to a CPA on the best way to go.

Answer 4

I agree, do not spend most of that inheritance.  You may not be doing what is in your best interest to buy a house at this time.  If you must buy the house, put as little as possible cash into the house.

You need to invest that money for income.  Speak to a financial advisor, or call up the mutual fund companies and describe your needs.

You may have to spend down some of that money to live, until your wife can find employment.