GroundRules
Utah Code § 57-28-302: Treatment of loan proceeds -- Effect on assistance eligibility.
Where this section sits in the code
- Title 57 Real Estate
- Chapter 57-28 Utah Reverse Mortgage Act
- Part 57-28-3 Reverse Mortgage Proceeds, Priority, Foreclosure, and Lender Default
For purposes of determining a borrower's eligibility and benefits for a means-tested program of aid to individuals:
(1) a reverse mortgage loan payment made to a borrower shall be treated as proceeds from a loan and not as income; and
(2) undisbursed funds under a reverse mortgage shall be treated as equity in the borrower's home and not as proceeds from a loan.
Collected 2026-09-03T11:34:33Z. Source file · JSON