That is correct.. With a reverse mortgage you can take a lump sum payment or monthly payments.. Most older people that have a mortgage take a lump sum to payoff...
Thanks for the reply.. NO monthly payments on the reverse mortgage.. The funds from the reverse mortgage were used to payoff her 1st mortgage 10 years ago.
You said "see how to nominee below" but didn't include any information below. I assume you are referring to the assigning the interest reported to the deceased ...
James- Thanks for the reply.My confusion is still that TT doesn't take the capital improvements spend off the selling price of the property.. nor does it add it...
