Seniors who are looking into a reverse mortgage may have an opportunity for bigger tax-savings vs. selling their property. Not only does the reverse mortgage provide a convenient source of cash for those who have significant equity but need a cash infusion, it also allows borrowers to keep control of their property until they move out of their home or pass away. Many seniors own homes that have significantly appreciated in value but they are short of cash and with inflation on the rise it could in turn make things worse. However, a reverse mortgage strategy could help homeowners save or even avoid a huge tax bill all while continuing to own their home.
Read more and see if the reverse mortgage strategy could give your borrowers a huge tax break.
Find out more about reverse on our website, and reach out to us at Reverse@plazahomemortgage.com. Let’s explore adding this strategy as another option for your borrowers and your business.
