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Can a reverse mortgage personal residence be foreclosed on, if; the owners personally guaranteed loans are in arrears?

by pl81844797 from , California. Nov 14th 2016 Reply


Sara Deere (Mortgagequeen2)
#15 ranked lender in Missouri - 608 contributions

The servicer will start foreclosure proceedings in connection to the reverse mortgage property, if the homeowner's have not paid property taxes, home owner's insurance, and/or HOA fees. The servicer will not start foreclosure proceedings on the primary residence, if one owes on a payday or installment loan.

Dec 1st 2016
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