Will we get any tax breaks from a new reverse mortgage that we got in Dec. 2017??

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Will we get any tax breaks from a new reverse mortgage that we got in Dec. 2017??

No, the point of a reverse mortgage is that you don't pay interest during the year, it accrues instead. Mortgage interest is only deductible when you pay it. The one exception would be origination charges (points) you paid at closng.

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Will we get any tax breaks from a new reverse mortgage that we got in Dec. 2017??

No, the point of a reverse mortgage is that you don't pay interest during the year, it accrues instead. Mortgage interest is only deductible when you pay it. The one exception would be origination charges (points) you paid at closng.

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