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    #1

    reverse mortgage

    How is the accrued finance charge (interest) and MIP (Finance Charge) paid to HUD handled on taxpayers tax return?

    Thanks

    Kurly
    Tags: None
    #2
    The interest is deductible when it's paid, just like any other mortgage interest.

    MIP is not finance charge ... it's Mortgage Insurance Premium.
    Roland Slugg
    "I do what I can."

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