FAQ Who owns the house after a reverse mortgage?
Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com
Who owns the house after a reverse mortgage?
After a reverse mortgage, the homeowner retains ownership of the house. The lender holds a lien on the property until the borrower either moves out or passes away. At that point, if the loan balance is greater than the value of the house, the lender may take possession of the home to satisfy their loan.
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

Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com
Can you refinance a reverse mortgage?
Yes, you can refinance a reverse mortgage. You can refinance into another reverse mortgage to take advantage of additional equity or lower interest rates. Or you can refinance into a traditional mortgage, or home equity line of credit. In order to do so, you must qualify for the new loan and meet the underwriting requirements. Traditional underwriting will include credit qualification, income qualification, asset qualification, and property qualification.
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

Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com
Do reverse mortgages require an appraisal?
Yes, a reverse mortgage does require an appraisal. Sometimes a 2nd appraisal is ordered for a property. An appraisal determines the home's value and homeowner equity, which helps determine the max loan amount for the reverse mortgage. The appraisal must be completed by a qualified appraiser ordered by the lender.
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

Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com
Are children responsible for parents reverse mortgage?
No, children are not responsible for their parent's reverse mortgage. Reverse mortgages are loans taken out by the homeowner, who is solely responsible for repayment. The loan must be repaid if the homeowner passes away or moves out of the house. Either way, the children are not obligated for the debt.
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

Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com
Who owns the house after a reverse mortgage?
After a reverse mortgage, the homeowner retains ownership of the house. The lender holds a lien on the property until the borrower either moves out or passes away. At that point, if the loan balance is greater than the value of the house, the lender may take possession of the home to satisfy their loan.
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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