Hi Mori and Bryant! My potential seller was giving me conflicting information. I ended up checking on Bank of America's site about reverse mortgages. It basically said if your market value is less than the mortgage balance if you sold the house, you would not owe them anything. Of course, you would have to pay the broker and closing costs. I have not fully explored this because the gentleman is trying to do a deed-in-lieu of foreclosure before listing. Here is the link:
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