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Old 06-14-2009, 09:46 PM
 
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My niece recently became permanently disabled from a severe car wreck. At best, she will be on SSI indefinitely. There is no telling if she may be able to work again.

She is currently being taken care by her parents (temporarily). She has gotten better, and want to be independent.

Since she is on SSI, I assume she could live anywhere. Since SSI doesn't usually pay much, can she get a mortgage for a small house or condo in a desolate area?

If so, what are the requirements / proceedings? I told her parents she may be able to take advantage of the $8k tax credit to help since SSI only pays her on a monthly basis. I believe the $8k credit could be used as part of the down payment.

Thanks for the help.
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Old 06-15-2009, 03:24 AM
 
Location: Florida
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The credit gives you back up to $8000 of the tax you pay.
I doubt she owes any taxes against which she can claim the credit.
If I have misunderstood the program I'm sure somebody will follow this up with a correction.
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Old 06-15-2009, 10:04 AM
 
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The maximum monthly SSI payment is just under $675, I can't imagine anything costing under $300 a month PITI plus HOA in a condo.
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Old 06-15-2009, 06:37 PM
 
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I forgot about the condo fees - never lived in a condo.

She gets $670, IIRC.

So a small house in a small town, then. Housing is cheap where there are no jobs nearby. Since she gets paid by the gov't, she can live anywhere. I'm helping out if the house needs fixing or maintenance.

I only question if it's at all possible to get a mortgage for a disabled person on SSI these days. Can she or can't she?
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Old 06-15-2009, 06:54 PM
 
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There is more to living than a house. Utilities, taxes (however small), increased commuting costs for food and medical care, assistance for anything she needs or will need, etc.

She should be checking into apartments where the cost is limited to a % of income. We have them in Indy and they can be very nice.

With a house, she will also be responsible for all maintenance which never seems to come when the money is available. Please reconsider.
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Old 06-15-2009, 07:29 PM
 
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This is a family effort. Any shortcomings will be compensated by the family. We are not putting her out.

Moderator cut: Not necessary

And we will not put her in an apartment in the ghetto. Absolutely not.

Last edited by Green Irish Eyes; 06-16-2009 at 11:56 PM.. Reason: People are offering ideas as you asked -- please be respectful of their opinions.
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Old 06-16-2009, 03:49 AM
 
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Does she have downpayment money?
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Old 06-16-2009, 08:18 AM
 
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Quote:
Originally Posted by filmsniffer View Post
I forgot about the condo fees - never lived in a condo.

She gets $670, IIRC.

So a small house in a small town, then. Housing is cheap where there are no jobs nearby. Since she gets paid by the gov't, she can live anywhere. I'm helping out if the house needs fixing or maintenance.

I only question if it's at all possible to get a mortgage for a disabled person on SSI these days. Can she or can't she?
Yes, a person can qualify for a mortgage on SSI. Any income that has expectation of 3 years of continuance can be used in qualifying.

PS. when you get out into 'small town America' there are single family homes in an affordable range that might work ($20k-$40k).
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Old 06-16-2009, 02:14 PM
 
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She really needs to lok into subsidized housing and not all of tehm are getto and some are speacific for the disbaled. Depending on the disabilyt hse amy ned speacil arangements also in the house.It need to be remember that owning a house does not stop as far as expense goes with buying the house and making payments.She will likely need alot fo suport to maintain it. Good luck
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Old 06-16-2009, 11:53 PM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,477,719 times
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Quote:
Originally Posted by old_cold View Post
The credit gives you back up to $8000 of the tax you pay.
I doubt she owes any taxes against which she can claim the credit.
If I have misunderstood the program I'm sure somebody will follow this up with a correction.
Yes, you have misunderstood the program. The credit gives you $8000, period. If you owe any taxes at the end of the year it will come out of that $8000, but you will get a check for the remainder.

Although HUD recently issued a mortgagee letter outlining the ways that the tax credit can be used for a down payment, I have yet to hear of it being implemented.
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