Connecting Senior Homeowners Age 62 or older with FHA Reverse Mortgage Lenders.
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Go Local Reverse Mortgage connects seniors with National approved lenders and specialist to qualify, determine eligibility, educate and simplify the reverse mortgage process by walking them through step by step. Reverse Mortgage loans Reverse Mortgage information Reverse mortgage lenders Reverse Mortgage Calculator
Instant interactive Quotes online no SS # required Free no obligation proposals placement with a national bank reverse mortgage loan officer and lender
For anyone itemizing tax deductions, a reverse mortgage eliminates the deduction for house interest since no interest is paid out
Income Tax
The money you will get from a reverse mortgage are income tax free. But, since you retain the title to your property, you’re still required to pay for property taxes, homeowners insurance, utilities, power, upkeep, along with other property related costs. Interest on reverse mortgages is not tax deductible on tax returns until the reverse mortgage is paid partially or entirely.
Reverse mortgages (generally known as Home Equity Conversion Mortgages, shortened to HECM) are serving to older home owners in Tampa Florida attain additional monetary security and enjoy their retirement years to the fullest extent.