Reversed mortgaged home....to a trust.?
My grandmother has gotten a reversed mortgage on her home. Well, she wants to know if she be capable of put the house in a living trust. So it won't go into probate upon her annihilation. Will it even go into probate, if not?
Answers:
A reverse mortgage will no longer belong to your Grandmother upon her demise - unless so specified under the terms of her reverse mortgage. Normally reverse mortgages solely pay until the death of the lien holder - or until a specified time transpires prior to the disappearance of the lien holder. At that time, the lender takes ownership of the home.
Take the contract for the mortgage to a CPA, or a Real Estate Attorney to help you sort through the vocabulary of the loan.
you need to talk to me around reverse mortgage i been doing them for years. i bet she is probably in the wrong program to. I work near the federal government and i do reverse mortgages with the first edge that ever started them JB NUTTER. when she dies whoever she left the house to goes to that personality. i could expalin everything better on the phone rather then typing.
alan smith
reverse mortgage specialist
410-961-4091
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Answers:
A reverse mortgage will no longer belong to your Grandmother upon her demise - unless so specified under the terms of her reverse mortgage. Normally reverse mortgages solely pay until the death of the lien holder - or until a specified time transpires prior to the disappearance of the lien holder. At that time, the lender takes ownership of the home.
Take the contract for the mortgage to a CPA, or a Real Estate Attorney to help you sort through the vocabulary of the loan.
you need to talk to me around reverse mortgage i been doing them for years. i bet she is probably in the wrong program to. I work near the federal government and i do reverse mortgages with the first edge that ever started them JB NUTTER. when she dies whoever she left the house to goes to that personality. i could expalin everything better on the phone rather then typing.
alan smith
reverse mortgage specialist
410-961-4091
Related Questions: