Reverse Mortgage
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Reverse Mortgage

This forum promotes education about the FHA Guaranteed Home Equity Conversion Mortgage (HECM) and other proprietary reverse mortgage products.


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

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Reverse Mortgage :: Reverse Mortgage Basic Information :: Tax implications of a Reverse Mortgage

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

Post  freejack Fri Jan 11, 2008 2:02 pm

What happens to the interest?

freejack

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Join date : 2008-01-10

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

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

Ralph J

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Post  Sun Shine 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

Sun Shine

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Post  Marc Johnson 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.

Marc Johnson

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