Page 18

18

32. Aleutian Restitution Payments

33. Loans and Promissory Notes

Money received as a loan (other than educational loans) by the a/b is not countable income if there is an agreed upon timetable and plan for repayment. Refer to MA-2230, Financial Resources.

34. Lump Sum Payments

a. Lump sum payments received from past months’ benefits from SSI or RSDI are excluded from income. Refer to MA-2230, Financial Resources, for treatment as a resource.

b. Do not count lump sums paid directly to another person outside the budget unit.

c. Lump sum payments received as compensation for a loss of assets or the lump sum was earmarked for a specific purpose. Example: A/b receives an insurance settlement to replace a motor vehicle, a home, or for other catastrophic events. These payments would be disregarded from income. Refer to MA-2230, Financial Resources.

35. Reverse Mortgage Payments

A reverse mortgage is an agreement in which a lending company makes regular payments to a homeowner during a specific period of time. The amount of payment is determined by the amount of equity the homeowner has in his home. The homeowner is allowed to remain in his home until his death or until a negotiated future date. At that time, the home is sold, and the lender is repaid. Any proceeds remaining at the first of the month following receipt are a countable resource. Refer to MA-2230, Financial Resources.

36. Radiation Exposure Compensation Trust Fund Payments.

Payments which provide compensation for injuries and deaths resulting from exposure to radiation from nuclear testing and uranium mining.

37. Payments made from any fund established as a settlement in the case of Susan Walker v. Bayer Corporation, et al. These cases involve hemophiliacs who contracted the HIV virus from contaminated blood products.

38. Department of Defense Payments to Certain Persons Interned by North Vietnam.