Reverse

Tax Tip: Senior Tax Deferments

Written by Tom Woods, as originally published in The Reverse Review.

In the last few years many states and taxing authorities have eliminated their Senior Tax Deferral programs. California dropped its program in 2010, and as of July 2011 Oregon’s state legislature passed new rules for its deferment program, which essentially ban applicants that have a reverse mortgage.

So what state still allows reverse mortgage borrowers to enter into a tax deferral that will not cause issues with their reverse mortgage lender/servicer, you ask? Why, that would be Massachusetts.

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