Unlike a traditional mortgage, borrowers can't deduct the interest charged on a reverse mortgage each year, as interest isn't deductible until it's actually paid. (fool.com)
He would point out that Countrywide rewrote more than 83,000 mortgages to alleviate pressure on its debtors in 2007 and that it expects to modify even larger numbers of mortgages this year. (creditslips.org)
Bank Recs Analyze the GL (reclass, if necessary) Make sure Mortgage, Utilities, and Property Taxes are paid Credit Card Reconciliations Review Income & Expense statement Review Cash balance (this is mostly every time checks are cut) to make sure there's enough for mortgage Year - end: Gathering all backup and documents for the tax accountant or auditor This includes GL should be close to perfect. (biggerpockets.com)