I’m having trouble finding the law that states the answers for these. I’m only looking for the law that will answer my questions.
When I take my monthly draw from the bank from my reverse mortgage loan is that considered income? Also can I deduct the interest when it is added to the outstanding loan balance each month.
I plan on going back to work at the end of Summer. I have been staying home with the kids and I’m re-entering the workforce. I have banking and Mortgage lending experience.
My 66 year old mother is considering a reverse mortgage, but even with that supplemental income potential, she will still need to apply for Medicaid to cover prescription expenses. Will a reverse mortgage affect her qualification for Medicaid?
What happens to a reverse mortgage after the person have to go to nursing home. How does that work?
I’ve been looking into these a lot lately, but I’m having a hard time deciding what company to work with. Anyone work for one – or have a reverse mortgage – that they can recommend?
