All Forum Posts by: Samara Thelen

@Davion Lewis

Thank you all for your advise. The whole process just seemed too risky. Going to stick with vacation rentals for now. I really appreciate the information though.

Looking to buy my first investment property and I have found a potential property that is in preforclosure. However the deceased owner had a reverse mortgage around $300,000. Her son is wanting a short sale before it is auctioned off. Currently auction cannot proceed because there are many squatters living at the property. I am a new real estate agent, so I have all the title info but confused how the reverse mortgage would affect the sale and who I should contact? The bank with the reverse mortgage? Any thoughts would be greatly appreciated!