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

1 Answers. Asked on Feb 27th, 2012 on Social Security - Washington
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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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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Social Security is a federal government program, primarily funded through payroll taxes, that provides an array of benefits to retired workers, the survivors of workers, the disabled and low-income families. Social Security attorneys typically work with one of two groups of clients. Many Social Security lawyers focus their practices on working with those whose applications for Social Security Disability Insurance (SSD or SSDI) have been denied. These attorneys assist clients at eligibility hearings and throughout the appeals process. Other Social Security law firms represent those who have been accused of Social Security fraud and those who are victims of Social Security fraud.
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