Posted on: 30th Jan, 2010 05:48 am
my mother passed away and she had a reverse mortgage, the company wants a lum sum.121.000 and i can not pay .they were not willing to take payments
welcome tsharon,
you can try to refinance the loan in your name with the help of a conventional mortgage. you would get this loan provided you have a good score and income. this will help you in saving the property.
if you are unable to refinance the loan, then the lender will foreclose the property. once the property sale is over, the lender would give you a 3 day notice. you'll have to leave the property within this time period.
you can try to refinance the loan in your name with the help of a conventional mortgage. you would get this loan provided you have a good score and income. this will help you in saving the property.
if you are unable to refinance the loan, then the lender will foreclose the property. once the property sale is over, the lender would give you a 3 day notice. you'll have to leave the property within this time period.