reverse mortgage

allaboutdeliverymoving · Joined: 20 Aug 2007 Posts: 1 1.29 Dollars($)

my mother has a reverse mortgage on her home just recently she past away. my question is how long do i have to live in her home since i have lived with her for several years.

miller_st · Joined: 17 Jan 2007 Posts: 917 168.82 Dollars($)

It seems you had asked similar question earlier also.

Please check this page for reply to your question: http://www.mortgagefit.com/know-how/reverseloan-payoff.html

larry · Joined: 27 Jun 2007 Posts: 3245 460.30 Dollars($)

Hi,

With the death of your mother who was the actual reverse loan bearer, the loan became due. Now to keep the house, you must pay back the outstanding amount of the reverse loan and refinance it later in your name.

Incase if you don't pay back the due amount of the loan, the lender sell the house to get back the money.

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