Is it Possible to wholesale a property with a Reverse Mortgage?

Is it Possible to wholesale a property with a Reverse Mortgage?

Specialist · Los Angeles, CA · Member since 2010 · 14 posts · 8 votes

Hey BP,

Hope I can get some assistance on this one. I'm still new so please bare with me. I recently had a call come in from an owner that wants to sell his fathers property fast which is great but he has a reverse mortgage on the property.

I'm not familiar this type of situation and want to know if wholesaling the property is an option? And if so, What information do I need to know from the owner to make this work out? So for I've just ran numbers as if it were a traditional wholesale deal.

Thanks and hope to hear some helpful tips soon!

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  • Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    12y

    Treat it like any other mortgage that needs to be paid off, you need to know the balance. The mortgage is due upon sale or the seller moving out.

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