Saint Augustine, Florida (PressExposure) November 21, 2008 -- Florida Reverse Mortgage Specialist believes that seniors who receive proceed from a Reverse Mortgage should not have to pay the two taxes being charge to them out of their proceeds. The two taxes the intangible tax and the Sate tax stamp should be eliminated for seniors. Since this tax is on mortgage transactions in all cases, seniors should not have to pay this tax they should be exempt from it.
Tim Robbins from Equitable Reverse Mortgage is taking a stand for seniors by writing letters to the Governor and state representatives to get their help for all seniors who want and need a Reverse Mortgage. Tim Robbins has setup a place on his website http://www.seniorconsumerreport.com where anyone who wants to help can go and send letters to the state government to voice their opinion.
It is extremely important to help our Senior's Tim says that they do not have the time or the resources to make up any loses that come from the paying of these taxes. They also do not have the tax write offs on their federal taxes. Which also brings up a point that the Federal Government does not tax proceeeds from a Reverse Mortgage.
So if you would like to help with crusade and voice your opinion please go to Tim Robbins website at http://www.seniorconsumerreport.com help me help them.