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Deductions & credits
The reverse mortgage insurance would not be delectable because it is not paid to build, purchase or improve your home.
Please remember that a reverse mortgage is not a loan on your home, in fact quite the opposite; therefore the insurance charge is not a deduction for you. This is not the same as Private Mortgage Insurance which is linked to you making home loan payments. It is insuring that you receive the payments.
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March 14, 2020
2:34 PM