Updated about 9 years ago on . Most recent reply
What to do when the property is listed as "reverse mortgage"?
Hello friends!
I'm was looking up on a property and the tax payer address is to a reverse mortgage company--what do I do with the lead? Move on to the next lead? ...
Most Popular Reply
An RM is not that different from a conventional mortgage, in that in either case the loan would need to be paid off. It may be that this owner couldn't qualify for a conventional mortgage or didn't want to make payments (the principal and interest just accrue), or planned to stay in it the rest of their lives.
I don't think this would impair any purchasing opportunity.
-Charlie