Posted on: 02nd Nov, 2010 04:46 am
do the children of the deceased have to pay back in a lump sum or is it a monthly payment?
hi reeniebean,
are you speaking about reverse mortgage? if the deceased person had a reverse mortgage, then the heirs can either refinance the mortgage and pay back the loan or they can ask the lender to foreclose the property in order to recover the dues.
take care.
are you speaking about reverse mortgage? if the deceased person had a reverse mortgage, then the heirs can either refinance the mortgage and pay back the loan or they can ask the lender to foreclose the property in order to recover the dues.
take care.