Question by krayz: do you have income with a reverse mortgage loan?
I’m having trouble finding the law that states the answers for these. I’m only looking for the law that will answer my questions.
When I take my monthly draw from the bank from my reverse mortgage loan is that considered income? Also can I deduct the interest when it is added to the outstanding loan balance each month.
Best answer:
Answer by FreakOfNature2000
Yes you get a monthly income based on your situation but its a big rip off. Don’t do it.
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Question by The Mace: I’m trying to get a hold of someone at Chase Home Finance that deals with problems.?
I’m trying to solidify my loan w/Chase Home Finance but they farm out the jobs to third world countries (Philippines). I’m always put on hold or the call is disconnected. I cannot get a hold of anyone that can help in the US and it’s getting really frustrating. Can someone provide an email address, more about of Chase Home Finance folks (professionals hopefully), this web that I can talk to or someone who can actually look into or solve my pay-off problem?
Best answer:
Answer by David
So is everyone else.
That is why you shouldn’t use chase.
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Stop paying your mortgage!
At least that is what we did. No one would pay attention to us since we were still making our payments. We wanted to help so we wouldn’t be delinquent, but nobody would respond. So we stopped paying them and within 3 months, they contacted us.