bradstreet22
Level 1
01-17-2021
01:17 PM
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With a reverse mortgage loan, we know that interest is not tax deductible until actually paid. For example, a paydown on the loan balance would generate some paid interest. Question: If a borrower with a reverse loan refinances it for a higher loan amount, is there interest considered paid on the old loan at the time of the re-fi? Thank you.
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