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Can we end a trust to remove the reverse mortgage lender as a beneficiary .

by Miadogma239167 from , . Jan 29th 2017 Reply


Larry Gray (lgray_312_247)
#597 ranked lender in California - 1,139 contributions

Your question is a legal question and on the chance of getting a mortgage professional with some experience of this issue you asked your question I think.I do know that whenever a sale occurs of a property that was on a reverse mortgage the heirs pay off the reverse mortgage bank as they would any loan on the property. Logically it would seem you could end the trust and remove the reverse mortgage as beneficiary, but I have no experience with the issue and can provide no legal advise regarding it. You could check with the reverse mortgage lender...tell them you plan to end the trust, and therefor remove them as a beneficiary. See what they say.

Jan 31st 2017
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