Legal Advice on Social Assistance Rules
Questioner
Good afternoon, I may soon end up on welfare, I read that my own equity must be used up first, but I am currently living very frugally in order to save money to pay off my house. I have a mortgage of 125,000 euros and the WOZ value of my house is around 95,000 euros. I have about 15,000 euros in savings. Do I have to put my savings into my mortgage before I receive social assistance, or will the mortgage debt be deducted from my savings and settled? Thank you.Lawyer
Under the Participation Act, you are not entitled to assistance if you have more than 11,880 or 5,940 (single person) in equity. The mortgage debt is not deducted from your savings and settled.Take the next step
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