Can you write off the interest that accrues on a Reverse Mor

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Can you write off the interest that accrues on a Reverse Mor

Post  freejack on Fri Jan 11, 2008 2:02 pm

What happens to the interest?

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Re: Can you write off the interest that accrues on a Reverse Mor

Post  Ralph J on Mon Jan 28, 2008 7:48 pm

What interest are you talking about? I don't understand.

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Re: Can you write off the interest that accrues on a Reverse Mor

Post  Sun Shine on Tue Feb 05, 2008 10:21 am

I'm not sure whether you can deduct the interest, as you are not actually paying it out or the interest can be taken at your death. Good question? Hopefully someone will let us know

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Re: Can you write off the interest that accrues on a Reverse Mor

Post  Marc Johnson on Tue Feb 05, 2008 10:52 am

But if you live for 30 years after the loan, that might be to late to deduct the interest rates. Hey this might be a good tax exemption.

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Re: Can you write off the interest that accrues on a Reverse Mor

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