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Posts Tagged 'interest deduction'

How to Deduct Reverse Mortgage Interest & Other Costs

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Similar to a conventional mortgage, some of the costs associated with getting a reverse mortgage are tax deductible, as are any interest payments a borrower might make. For example, reverse mortgage origination fees and any broker fees can be claimed, says Joe Diaz, owner of American Essential Services, a tax preparation company located in Kissimmee, Fla. And, he continues, if...
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What You Need to Know About Reverse Mortgages and Tax Reform 

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You can be forgiven for not knowing exactly how tax reform will affect reverse mortgages  -- after all, with the legislation itself passed hastily to capitalize on rare consensus among Congressional Republicans; accountants and other financial professionals will likely be busy sorting out the implications all the way through tax day and beyond. For many homeowners, the disappearance...
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