![]() Depending on the plan, your reverse mortgage becomes due with interest when you move, sell your home, reach the end of a pre-selected loan period, or die.With a reverse mortgage, you retain title to your home. ![]() The lender pays you, the borrower, loan proceeds (in a lump sum, a monthly advance, a line of credit, or a combination of all three) while you continue to live in your home. Reverse mortgage payments are considered loan proceeds and not income. ![]() ![]() No, reverse mortgage payments aren't taxable.
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