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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
Will It Affect My Social Security If I Co-Sign An Equity Loan?
I recently starting getting benefits after my husband passed away. I own a home with no mortgage. My son is trying to buy a home but unable to qualify. He is a veteran suffering from PTSD. Our accountant suggested I co-sign with my son and apply for an equity loan on the house I own. ( worth approximately $800,000. If I do this will it affect my Social Security Benefits as that is my only form of income now.
Hi,
No. Your Social Security benefits can be paid regardless of your net worth or the type of assets you own.
Best, Jerry
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Posted:
March 24, 2019