My business partner and I found a lead. It's an elder woman who is motivated to sell, but she has a reverse mortgage.
We're thinking of using the subject- to strategy and are curious about how this will differ from a regular mortgage or if it will essentially be the same process?
Has anyone had any experience with this before?
Thanks in advance for any answers/advice!
You cannot use a sub-to arrangement with a reverse mortgage. When she leaves the house, the mortgage is called. Period.
@Phil G. Gotcha. Thanks for clearing that up!