Inman: Reverse Mortgage Advantages Outweigh HELOC Option – Despite there being different uses for people looking to meet different needs in retirement, Guttentag hones in on the use of a reverse mortgage to supplement income pending the sale of a home..
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Why can't a reverse-mortgage foreclosed house be sold for. – Why can’t a reverse-mortgage foreclosed house be sold for less than appraised value?. I am the executor of an estate with a HECM mortgage. Wells Fargo offered a short sale, and Fannie Mae already paid the bank, and even at their appraised price they offer you the buyer, (me the daughter) a.
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Short Sale Tax Implications | Nolo – A short sale is when a homeowner sells his or her home for less than the total debt balance remaining on the mortgage and the lender agrees to accept the proceeds from the sale in exchange for releasing the lien on the property.
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What is a Reverse Mortgage, Explained in Simple Terms. – A reverse mortgage is a loan for homeowners age 62 and older that requires no monthly mortgage payments. The loan is repaid when the borrower passes away, leaves the home permanently or sells.
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Salt Lake City FBI Warns of Reverse Mortgage Straw Buyers – The Salt Lake City FBI and Utah Division of Real Estate named its top 5 mortgage scams for 2010 and reverse mortgages were included. The Salt Lake City FBI added that short sale fraud, builder.
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Foreclosure of a Reverse Mortgage – But there are occasions when a foreclosure is used with a reverse mortgage. Reverse Mortgage Consultant. If the borrower is selling, foreclosure is not happening. There may be a short sale and that is handled the same as with a regular mortgage. If the borrower moves, typically they would be.
Reverse Mortgage Short Sale – Yes, it's a thing. – If you are contacted about a reverse mortgage short sale, know that these transactions are not so uncommon. Keep in mind that you may be able to bring the buyer to the transaction as well, since (unlike the traditional short sale) the buyer in a reverse mortgage short sale can be a relative of the borrower.