Hi fellow Realtors! been awhile since I have been here but boy do I need help!

I have a Celink reverse mortgage that was just transferred to Novad for servicing. For starters, If the owner is alive and not in a facility, does he have to occupy the house in order to do a short sale?

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Comment by Short Sale Superstars LLC on February 13, 2021 at 7:53am

Hi there. No, the house needs to be vacant or you need a letter stating they are moving out of the house for a reverse mortgage short sale. Novad is HUD's national servicing. They will accept an offer at 95% of the appraised value.

Reach out if you need any help!

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