The Loan Amount on a Reverse Mortgage Is

question 18

Multiple Choice

The loan amount on a reverse mortgage is:

• A) not assessed under the assets test if the funds are spent immediately.
• B) not assessed under the assets test if the funds are spent within 90 days after withdrawal.
• C) assessed under the assets test regardless if the funds are spent.
• D) assessed under the assets test for amounts exceeding $40,000 regardless if the funds are spent.