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The owner of the home that still occupies the home and has the reverse mortgage is still responsible for maintaining the home and for paying the property taxes, and all other expenses in keeping the home in good condition.
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∙ 14y ago
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What if your home is destroyed and you have a reverse mortgage who pays the real estate tax?
You do.You do.You do.You do.
When I die who pays my taxes?
your estate.
Who pays taxes on a reverse mortgage home that is no longer lived in?
The owner of the property.The owner of the property.The owner of the property.The owner of the property.
Who pays for mortgage until estate is settled?
The executor of the will would be responsible
Who pays back a reverse mortgage loan?
At "payback time" (the death of the last surviving beneficiary of the reverse mortgage) the house belongs to the bank.
What if your home is destroyed and you have a reverse mortgage who pays the real estate tax?
You do.You do.You do.You do.
What happens to the land in a reverse mortgage contract?
In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.
When I die who pays my taxes?
your estate.
Who pays taxes on estate that is controlled by the executor?
The executor of an estate uses the assets of the estate to pay any taxes or other debts owed by that estate. If it should turn out that the taxes owed exceed the value of the estate, then the executor pays as much as the estate consists of, after which there is no longer an estate.
Who pays taxes on a reverse mortgage home that is no longer lived in?
The owner of the property.The owner of the property.The owner of the property.The owner of the property.
Who pays the property taxes on life estate?
The owner of the life estate.
Who pays deceased unpaid mortgage?
If there is a will, the executor makes all mortgage payments from the estate of the deceased.
Who pays for mortgage until estate is settled?
The executor of the will would be responsible
Who pays back a reverse mortgage loan?
At "payback time" (the death of the last surviving beneficiary of the reverse mortgage) the house belongs to the bank.
Who pays the loan on my mother's house after her death?
The estate pays the cost to maintain the estate. The house may have to be sold if the mortgage cannot be paid. If someone wants the house, they may wish to pay the mortgage.
What is the difference between death tax and estate tax?
Inheritance taxes and estate taxes differ only in who pays and to whom the tax is paid. Learn the differences between inheritance and estate taxes.
How does a reverse mortgage compare to a traditional one?
A reverse mortgage is compares to a traditional one in that it actually pays the homeowner rather than the homeowner having to make payments. A reverse mortgage is for those that are 62 and older and becomes payable after the homeowners death.
