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Mortgage Community Forums | Loan Talk for First Time Home Buyers | How do we keep the property

How do we keep the property

Posted on: 19th Sep, 2010 07:52 pm
Once the holder of a Reverse Mortgage has expired what do the heirs need to do to keep the property.
hi maryglover,

the heirs of the reverse mortgage holder will have to refinance the mortgage in their names and take out a conventional or fha loan. they will have to make the payments to the lender on time in order to save the property.

thanks
jameshogg
Posted on: 20th Sep, 2010 02:37 am
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