Larry McAnarney
815-703-4745

Reverse Mortgage Tax

Reverse Mortgages & Taxes

Reverse Mortgage Income is NOT income-taxable¹. Since it comes from the equity of a primary residence and is considered a mortgage loan, the IRS does not consider the reverse mortgage proceeds as income and therefore not income-taxable¹. The income-tax free income¹ from the reverse mortgage is a boon to many Senior Citizens, struggling to retire on too small an amount.

Visit the following link to return to the ReverseMortgage home page or request a free Reverse Mortgage Quote.

¹ Consult a Tax Professional

Verified Reviews

(233)

Larry Was Outstanding & Patient Larry was outstanding and patient in his help. Over the phone, he took me page by page in filling out the forms, a task that otherwise would have been daunting. He answered all my questions with kindness and courtesy. He made the reverse mortgage happen. I could not have done it without his help. He is the best!

Carol F — Jan 26, 2024

Knowledgeable Larry was very knowledgeable and explained things, so I understood.

Denise R — Jul 23, 2024

A Rocky Road Made Smooth My particular mortgage refinance was exceptionally complicated involving divorce decrees, lawyers and and settlement issues. Cutting to the chase, the situation was handled with professionalism and grace by my agent Larry McAnarney. At times when I felt like ripping my hair out, Larry was there to help each step of the way and keep the loan on track. It was a dedication far beyond what I would have expected. I'd recommend him to anyone seeking a reverse mortgage in a New York minute.

Rob M — Sep 24, 2015