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Urgent help on a reverse mortgage question please

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Crohn's Disease
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Posted 5/28/2013 11:28 AM (GMT 0)
My Dad is fading faster now and I still don't have an answer to one thing on his reverse mortgage.  I read the contract, I read the pamphlet they give...no where can I find out who is responsible for selling the house.  DO we have to...or does the loan company?

I really can't this stress.  I haven't slept past 2 am for about two weeks now.  Really tired and Dad is in pain and can't speak now.  Just really want it to be over for everyone..watching him struggle is so hard and even harder seeing in his eyes that he knows what is happening.

Posted 5/28/2013 12:14 PM (GMT 0)
There are attornies who do not charge a consult fee for the first visit. I suggest you check the yellow pages and find one. You could also check the yellow pages for an attorney specializing in geriatric law. And you could check w/your local family credit union or a bank other than the one holding your dad's reverse mortgage. I didn't know it was up to the family to sell the house. I thought that the house ownership went to the mortgager on the death of the mortgagee.

My heart goes out to your father, you and yours. May you all soon find peace and comfort. (((hugs)))
Posted 5/28/2013 1:53 PM (GMT 0)
So sorry you are having to go through this.. look after yourself.

As far as the reverse mortgage (equity taken out against the home) goes, the heirs of the estate will have the option to refinance, or to sell the home. I believe it's possible to get up to a year to do this - check with the finance company.

good luck and best wishes...
Posted 5/28/2013 4:21 PM (GMT 0)
I don't follow this board as much, what's wrong with your dad?
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