Posted on: 06th Nov, 2010 10:37 am
We have a lein on someones' house. Can they get a reverse mortgage on it without paying us first? If so, would we have to wait until the reverse mortgage is due? Thanks for any help.
Hi msteph,
The lien should be paid off before they take out the reverse mortgage. In order to get a reverse mortgage, the property should be free and clear of any liens.
The lien should be paid off before they take out the reverse mortgage. In order to get a reverse mortgage, the property should be free and clear of any liens.