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Asked by someone from WA on 7/1/2015
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
If you're actively engaged with working with the Servicer to pay back the Reverse Mortgage, they'll give you up to 12 months. If you're not working with them, the mortgage note says 30 days. (Read More)
Asked by someone from NC on 6/28/2015
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
Reverse Mortgages are FHA-insured, so homeowners are protected by an insurance policy if they owe more on the Reverse Mortgage, then the value of their house. (Read More)
Asked by someone from IA on 6/26/2015
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
The Reverse Mortgage would be due and payable when the house is sold. (Read More)
Asked by someone from CA on 6/25/2015
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
Yes. You can sell your current house, and pay off that Reverse Mortgage, and use a new Reverse Mortgage to purchase your next house. (Read More)
Asked by someone from NY on 6/24/2015
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
You don't need either of those. You just need to be the right age, and have enough equity. And acceptable credit and income. (Read More)
Asked by someone from MS on 6/23/2015
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
The Reverse Mortgage is due and payable after the last person on Title no longer resides in the house as their primary residence. Since both your Parents passed, it's due and payable. Normally, the company Servicing the Reverse Mortgage sends letters to the house, when the Reverse Mortgage needs to be paid. They'll also call. You should call ... (Read More)

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