Reverse mortgage income cards allow you to model tax-free income associated with a future Reverse Mortgage. Please note that existing reverse mortgages can be modeled as Loans within the Profile > Net Worth section.
You can add future reverse mortgage income into RightCapital within the Income section of the Profile (or the Income step of the initial data entry process), by clicking Add Income > Other > Reverse Mortgage:
This data card will allow you to indicate interest rates, fees, closing costs, and which property the reverse mortgage is tied to. The payments will be visible in the Income Inflows > Other Income column of the Cash Flows > Summary. A Mortgage balance will also accrue within the Cash Flows > Net Worth table.
Reverse mortgages are only available if the owner of the reverse mortgage is age 62 or older.
