Foreclosures

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Nichole Mollica
  • Chattanooga, TN
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Reverse Mortgage Short Sale Questions???

Nichole Mollica
  • Chattanooga, TN
Posted Jan 16 2014, 15:54

I have an executor who would prefer to sell to me rather than pay for listing. The reverse is about 100K over market value in current condition. He wants to be able to pay off the grandchildren named in the will too. Can anyone share their insight on the short sale of reverse mortgages? I've been told they are easier to do than regular mortgage, but do all the same rules apply when it comes to the families being able to walk away with some cash? Things change every week in this industry, I'm just looking for the most up to date knowledge I can find so as not to steer anyone wrong.

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