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Asked by someone from CA on 5/20/2015
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
If you made any interest payments that year, you can deduct them. When the Reverse Mortgage is paid off, whoever paid it will receive the interest write off. (Read More)
Asked by someone from MA on 5/6/2015
A NewRetirement User says
If you sell your current home and are not in default on the Reverse. You could qualify with a HECM for Purchase Reverse mortgage on a new property. (Read More)
Asked by someone from TN on 5/18/2015
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
It works like a standard Conventional Mortgage. The Lender is paid what's owed, and the remaining equity goes to the Estate. (Read More)
Asked by a 62 year old man from OH on 5/15/2015
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
If you're asking about a Reverse Mortgage, you'll receive approximately 50% of the value of your property. If your home is valued at 600k, you'd receive about 300k from the FHA-insured Reverse Mortgage program that's sponsored by HUD. (Read More)
Asked by a 77 year old woman from CA on 5/14/2015
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
You may also want to consider the Reverse Mortgage Purchase option. At 77, you can buy a place for approximately 40% down, and never have a monthly mortgage payment obligation. You'd be saving $2,650.00 per month, enabling you to last longer. (Read More)
Asked by a 51 year old man from ND on 5/14/2015
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
No. You've got 11 more years before you're eligible for a Reverse Mortgage. (Read More)

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