Ian Andrews Tax Fraud Florida Reverse Mortgage Loan Tax On Seniors Can Expense Thousands At Closing

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The reverse mortgage program has suffered huge losses over recent years and many of those losses are avoidable because they come from family members and others who game the system just as you are describing here. The loan amounts for seniors is decreasing and the qualification has become much more difficult due to the losses.

What is a reverse mortgage? A reverse mortgage is a special type of home loan only for homeowners who are 62 and older. A reverse mortgage loan allows homeowners to borrow money using their home as security for the loan, just like a traditional mortgage .

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