What happens when a reverse mortgage becomes due? What is a maturity event?
Today Mark and John discuss:
- What happens when owners of a house pass away and the house is inherited by someone else?
- How long to you have to pay off the loan?
- What if you have a hard time selling the property?
- What if you want to keep the property?
- Can you refinance out of the reverse mortgage?
- What if the property value has depreciated over time?
- How does the loan servicing company know if a borrower has moved out and isn’t using it at a primary residence?
Are you ready to learn more? Take a listen and find out if a reverse mortgage is right for you and your situation.