ABA Family Legal Guide

The Rights of Older Americans

Housing and Long-Term Care Options

Home Equity Conversion

Is home equity conversion the only way to increase my monthly income?

Not necessarily. If you find that your monthly income does not meet your expenses, you may be eligible for government benefits, such as supplemental security income, food stamps, or Medicaid. (See "Social Security and Supplemental Security Income" on page 601.) Some states also have property tax credit or deferral programs for which you may be eligible. To find out more about these programs, call your local agency on aging. You should consider all of the options available to you before you make a decision. If you already are receiving public benefits, you should make sure that the home equity conversion plan you choose does not affect those benefits.