Skip to content

Beth’s Reverse Mortgage Blog has moved

May 22, 2014

1SIDAC-LOGO-COLOR-HIGHRES

Along with the update our website, www.RMSIDAC.com, I have moved my blog to a new site:  http://rmsidac.com/beths-reverse-mortgage-blog/.  Please visit the new site for future posts and explore our website for facts and information about Reverse Mortgages in Minnesota.  Make sure you subscribe so you receive email notices when a new post has been added.

Thanks for visiting!  Hope to see you on the new site!

BLOG POST’S INFORMATION IS CURRENT AS OF THE DATE POST PUBLISHED, PROGRAM HAS CHANGED OVER THE YEARS AND IS SUBJECT TO CHANGE IN THE FUTURE.   Contact us for current information, 651-762-9648.

This site or information provided is not from, or approved by, HUD or FHA or any US Government Agency or Department.

Photos used are stock photos, not actual borrowers.

Borrowers’ situations and quotes used are real; borrowers’ names changed to protect their identity.

Advertisements
2 Comments leave one →
  1. Buford Scott permalink
    November 11, 2015 1:56 pm

    I have a reverse mortgage and it appears the amount of mortgage is outpacing the value of house and there is no way to pay the mortgage when we die or decide to leave for assisted living. What are our options.

    • November 29, 2015 2:59 pm

      Hi Scott, sorry for the delay in responding to your comment…my blog has moved to http://www.RMSIDAC.com/beths-reverse-mortgage-blog so I do not monitor this site regularly. As a non-recourse loan, when you die or decide to leave the home, you or your heirs are not responsible for the difference if the loan balance is higher than the home can be sold for. When you are out of the home make sure you or your estate reach out to the servicer within 30 days to let them know you are out of your home. At that time the servicer will advise you or your estate of the options.

      Note that if the home is sold for more than the loan balance, the difference goes to you or your heirs.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: