You might not have heard of Koko Taylor but she's a well-known woman in her niche. She's a blues singer who has been performing for years. She continues to play live concerts to fans despite the fact that she is pushing eighty and has failing health.
You can imagine the commitment of those fans to the singer. Because of their devotion to her, they've been saddened to find out that she is being hassled by the IRS for taxes that she reportedy owes. She is said to owe the government $400,000.
The blues business doesn't pay a lot of pennies so Koko doesn't have that kind of money. The solution that she turned to was the reverse mortgage loan. She figured that she could get home equity to pay off at least part of the IRS amount due. However, this amount would not cover the total owed so the IRS said "no deal". Koko isn't sure now what she's going to do.
Question of the Day: Does it sound like a reverse mortgage loan would be a good move for koko Taylor?
