In a message dated 4/24/02 6:19:56 PM Mountain Daylight Time, zippywebgenie@hotmail.com writes: > Asking about income from such a mortgage is one of the questions that a > tax preparer asks to make sure that all income is listed. Since the reverse > > mortgage is more beneficial, profit-wise, for a bank, and that's their only > > reason for making such an instrument available, and since the bank is the > one who creates the documents, I wouldn't trust any questions about my tax > situation to be answered by them, not even about this one thing. Usually the ramifications of the responsibilities of the parties involved are explained in detail, same as when you sign papers on a home mortgage. This is when it is discussed, never in place of a Tax professional, even though I have had some very wrong answers from them as well. If I want Tax info, at the time I'm filing, I go to whom ever I'm to pay the taxes to, I also get their name and position. I use these as a reference point in case of a problem. So far I have never had a problem to use this on, so after a time it becomes excess info and I discard it. While meaning several years. Until then it is kept with Tax info. I have been doing taxes for hubby and myself for nearly 30 years. Aleta, IBSSG, Charter Member Bo-Peep Award Ogden, Utah, USA "God sent his Singers upon the Earth, With songs of Gladness and Mirth. That they might touch the hearts of men, And bring them to Heaven again." --Longfellow