My grandmother’s house has a reverse mortgage and I’m trying to learn how to get her out of it to keep the house. Any insight is most appreciated!

The only way is to refinance and pay off the reverse mortgage.

@Tina Williams Refinance out of it or purchase it. You need to pay the loan off. If the home has no equity, you can attempt to purchase it as a short sale. If it's a short sale and you have questions, you can PM me.

@Tina Williams Not sure what the exact question is. There is no danger of her losing the house as long as she pays the taxes and insurance....there are no payments to be made and if she is underwater it doesn’t matter, as far as “keeping the house” is concerned. Unless her husband was the only one qualified (over age 62 I think it is) and she was younger at the time of the mtg, and then her husband passed away. If the mtg is being called due to this, she has the right to pay it off at 95% of a currrent fha appraisal, if she is underwater....as per fha guidelines which insures about 95% of all reverse mortgages.

It might depend on who owns the debt. Most banks are not very flexible. Most private investors are somewhat flexible. The reason I bring this up is that I was just this week considering purchasing the debt of a reverse mortgage that is in default. Best thing you can do is get on the phone and see what your options are regarding paying it back.

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