Posted on: 23rd Apr, 2012 07:51 pm
What if the person who has a reverse mortgage can now longer stay in the home due to medical issues? If unable to sell the home quickly what if any waiting period does the bank give before taking the home?
When it comes to selling one's home after taking a reverse mortgage, many seniors find much of the available reverse mortgage information confusing. The fact is seniors can choose to sell their homes at any time, but they should be aware that doing so will make their loan become due. To get the most from the loan, borrowers should remain in their homes for at least a few years after getting their loan.
:idea:
:idea:
Hi ddkkmm!
Welcome to forums!
As far as I know, medical issues will be considered by the reverse mortgage lender and may give you certain exemptions. You should immediately contact your reverse mortgage lender and take his opinion in this regard.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I know, medical issues will be considered by the reverse mortgage lender and may give you certain exemptions. You should immediately contact your reverse mortgage lender and take his opinion in this regard.
Feel free to ask if you've further queries.
Sussane
