FAQ What happens at the end of a reverse mortgage?
Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com What happens at the end of a reverse mortgage? At the end of a reverse mortgage, the borrower or their heirs must either repay the loan in full or sell the home to cover the loan amount. If they choose to sell, any remaining equity belongs to them or their heirs. The lender does not take ownership of the home when the borrower passes away. If the loan balance is higher than the market value of the home, you can turn the home over to the lender without further obligation. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com
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FAQ Is reverse mortgage taxable?
Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com Is reverse mortgage taxable? A Reverse Mortgage is a loan. Generally, proceeds from a loan, such as a reverse mortgage are not taxable. It's important to consult with a tax professional to discuss your individual circumstances. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com
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FAQ Who is responsible for repairs on a reverse mortgage?
Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com Who is responsible for repairs on a reverse mortgage? The homeowner is responsible for the general maintenance and upkeep of the property, including any needed repairs. The lender may be able to provide resources or guidance with certain repairs, but the homeowner, not the lender, is responsible for making sure the home is maintained and stays in good condition. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com
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Google Review from Rodney Dame
Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com What happens at the end of a reverse mortgage? At the end of a reverse mortgage, the borrower or their heirs must either repay the loan in full or sell the home to cover the loan amount. If they choose to sell, any remaining equity belongs to them or their heirs. The lender does not take ownership of the home when the borrower passes away. If the loan balance is higher than the market value of the home, you can turn the home over to the lender without further obligation. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com
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