real estat for personal use
My wife and I have a profit sharing plan and trust. Can we buy a personal property then getting a reverse mortgage, essentially making it an investment property?
My wife and I have a profit sharing plan and trust. Can we buy a personal property then getting a reverse mortgage, essentially making it an investment property?
Permalink Submitted by Alan - IRA critic on Thu, 2013-07-25 17:59
You can only get a reverse mortgage on property you own and occupy, but property you occupy cannot be held by your profit sharing plan.