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HomeForumsForeclosuresCurious about a Reverse Mortage in Foreclosure. Any tips?
Jenny D.'s profile image
Jenny D.'s profile image
Jenny D.
Pro Member
  • Rental Property Investor
  • from Austin, TX
  • Member since Mar 4, 2014
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Jenny D.'s profile image
Jenny D.'s profile image
Jenny D.
Pro Member
  • Rental Property Investor
  • from Austin, TX
  • Member since Mar 4, 2014
Connect
Jenny D.
Pro Member
  • Rental Property Investor
  • Austin, TX
10
Votes |
37
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Foreclosures

Curious about a Reverse Mortage in Foreclosure. Any tips?

Jenny D.
Pro Member
  • Rental Property Investor
  • Austin, TX
Posted Aug 15 2019, 11:48

Hi BP Community,

I'm a REI newbie looking at/for opportunities. I ran across a house in foreclosure with a Reverse Mortgage.

What questions should I be asking? What research should I be doing? It looks like the owner is deceased. The reverse mortgage was for $625k. Market value is around $781k. It is going up for auction in two months. It looks to be in great shape.

Thanks for any pointers, suggestions.

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