Should I discuss a reverse mortgage with my estate planning attorney?

Jul 29, 2024 ... A reverse mortgage is a loan that allows homeowners – most often those 62 or older – to borrow against a portion of the equity in their home. Oct 25, 2024 ... No, reverse mortgage payments aren't taxable. Reverse mortgage payments are considered loan proceeds and not income. A reverse mortgage is a loan for seniors ages 62 and older in which the lender pays you. Homeowners may convert their home equity into cash income, in the form ... The mission of the Reverse Mortgage DWG is to collaboratively review and enhance the MISMO reference model and corresponding work products to provide more ... In order to receive a Home Equity Conversion. Mortgage (HECM), the most common type of reverse mortgage loan, you must receive counseling from a HUD-approved ... A reverse mortgage allows you to take the equity you've built up in your home over the years and convert it into tax-free cash. Apr 9, 2025 ... How a Reverse Mortgage Works. Reverse mortgages get their name because instead of paying a lender, the lender pays the homeowner. The homeowner ... Dec 20, 2022 ... A reverse mortgage is a mortgage loan – usually secured by a residential property – in which the main source of repayment is the proceeds from ... Certain homes with reverse mortgages qualify for the Property Tax Senior and Disabled Deferral program. [Oregon Revised Statutes (ORS) 311.700]. "Reverse mortgage loan" means a loan: (1) made to a borrower wherein the committed principal amount is paid to the borrower in equal or unequal installments.