Reverse Mortgage Short Sales


Reverse Mortgage Short Sales

If you have a client that has done a reverse mortgage and now needs to short sale, this is the group

Members: 74
Latest Activity: Dec 11, 2017

Information For Reverse Mortgage Short Sales

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Discussion Forum

Reverse Mortgage HUD fees

Started by Joanne Finochio. Last reply by Becky Martin Jan 18, 2013. 8 Replies

I sent my final HUD in for approval and settlement attorneys fees were removed as well as other fees.  Does anyone know what fees are acceptable? Continue

Reverse Mortgage Short Sales

Started by Mori Langshaw Sr. Last reply by Bill Garrett May 24, 2011. 4 Replies

Has anyone done a short sale where there was a reverse mortgage. I understand that the loan docs are written completely different for these. Advice?

Not yet?

Started by John Treadwell Jun 14, 2010. 0 Replies

I would like to know how that works too  anyone got any info  ,or even maybe were a family member is trying to keep the home ,how would short sale work now?

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Comment by dale marie stephenson weir on July 12, 2010 at 3:55pm
I contacted the HUD counselors in my community to get the info - and they sent a counselor out to the house to talk to my clients (elderly with limited mobility) - they had someone with reverse mortgage as a specialty
Comment by dale marie stephenson weir on July 12, 2010 at 3:52pm
I need the info too, I sent my clients to a REAL reverse mortgage specialist, not a mortgage reverse mortgage specialist. They were basically told by the REAL reverse mortgage person (the one not associated by a bank but with a HUD counseling service), that they are not responsible for more than the value of what the home can be sold for, regardless of what the bank says. The two that we talked to from banks both told them that they would be responsible for the difference in the loan or would have to have it written off by the bank (traditional short sale).

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