• Question
  • buying back a family members house from reverse mortgage company?

    Asked on 9/22/2012

    Is it possible to buy back a deceased family members house? If so what would b the payment plan to do so?

  •  
  • Categories: Reverse Mortgages, Reverse Mortgages & Heirs, Housing

Answers

Toll Free 866-477-0404
  • Steve 

    Steve 
    NewRetirement

    San Francisco, CA

    Get a FREE phone consultation
    with an advisor. Learn more...
  • Yes - you should have this option - if you call the servicing company that has been sending the reverse mortgage statements - they should be able to tell you what the debt amount is. You could pay that off with cash or get a forward mortgage in your name and use the proceeds to pay off the reverse mortgage.

    Hope this is helpful.

  • Login to rate this answer:   Answered on 9/24/2012
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.