Treatment of loan proceeds -- Effect on assistance eligibility.

  1. Law
  2. Utah Code
  3. Real Estate
  4. Utah Reverse Mortgage Act
  5. Reverse Mortgage Proceeds, Priority, Foreclosure, and Lender Default
  6. Treatment of loan proceeds -- Effect on assistance eligibility.

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  • (1) a reverse mortgage loan payment made to a borrower shall be treated as proceeds from a loan and not as income; and
  • (2) undisbursed funds under a reverse mortgage shall be treated as equity in the borrower's home and not as proceeds from a loan.




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