01.12.2024 - Reverse Mortgages
Add Addon
Off
Who Uses Reverse Mortgages and Optimal Uses of Them
Presented by Dan Williams and Todd Swanson, C2 Financial Corp.
This webinar featured reverse mortgage experts, Dan Williams and Todd Swanson, providing an update on the most popular type of reverse mortgage, i.e. FHA-insured Home Equity Conversion Mortgage (HECM"). There also was an update on Jumbo reverse mortgages, which can be an option for clients with multi-million homes in 27 states.
Several uses case were reviewed, to include examples of how a reverse mortgage can be used to lower a client's tax bill, especially those making withdrawals from their qualified accounts and how a reverse mortgage can be used to pay for the income taxes that result from a Roth conversion.
Attendees Comments:
A few comments from listeners when they were asked what the learned from the webinar:
1009-R to 1098-INT swap for certain type RMs. RMs LOC use to pay Roth conversion taxes...brilliant!
- Darryle G.
Deductibility of interest paid, and loved the concept of drawing on the line to pay down the balance accrued and being able to deduct interest in year paid if acquisition or improvement loan $. I will discuss with my CPA.
- Marian J.
Using a HECM to pay Roth conversion taxes, availability of jumbo HECM LOCs
- Kenneth S.
Using a HECM to pay tax on Roth conversion.
- Nelson M
1009-R to 1098-INT swap for certain type RMs. RMs LOC use to pay Roth conversion taxes...brilliant!
- Darryle G.
Deductibility of interest paid, and loved the concept of drawing on the line to pay down the balance accrued and being able to deduct interest in year paid if acquisition or improvement loan $. I will discuss with my CPA.
- Marian J.
Using a HECM to pay Roth conversion taxes, availability of jumbo HECM LOCs
- Kenneth S.
Using a HECM to pay tax on Roth conversion.
- Nelson M
1009-R to 1098-INT swap for certain type RMs. RMs LOC use to pay Roth conversion taxes...brilliant!
- Darryle G.
Deductibility of interest paid, and loved the concept of drawing on the line to pay down the balance accrued and being able to deduct interest in year paid if acquisition or improvement loan $. I will discuss with my CPA.
- Marian J.
Using a HECM to pay Roth conversion taxes, availability of jumbo HECM LOCs
- Kenneth S.
Using a HECM to pay tax on Roth conversion.
- Nelson M