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With a reverse mortgage, the home belongs to the lender
That is outrightly incorrect. The title of the home remains in the name of the homeowner and they retain full ownership of the home, as long as they live in it and fulfill all the loan terms.
Lenders or banks are interested in making a profit from the interest on the loan instead of taking over homes.
You have to pay tax on money from a reverse mortgage
Payment from a reverse mortgage is part of your home’s equity, which technically belongs to you. The money is seen as the proceeds of a loan not income, meaning they are not taxable.
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Takes Reservations
Accepts Credit Cards
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Outdoor Seating
Good for Kids
Good for Groups
Waiter Service
Take-out
Wheelchair Accessible
Has TV
Dogs Allowed
Sells Gift Certificates
Alcohol
Has Music
Karaoke
Parking Lot
Valet Parking
Free Wifi
Smoking Allowed
Shower
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With a reverse mortgage, the home belongs to the lender That is outrightly inc […]