Forgotten Your Password?

Need to Register?

Question Icon

how can a reverse mortgage loan be in default with a balance of 284k

by rbrooklyn280607 from , California. Sep 15th 2019 Reply


Elva Wormley (ElvaWormley)
#817 ranked lender in California - 30 contributions

A reverse mortgage can be in default if the property taxes or insurance are not kept current, or the property not maintained or if the owner is no longer living in the property.

Sep 15th 2019
0
0
Sara Deere (Mortgagequeen2)
#15 ranked lender in Missouri - 608 contributions

I agree with the previous submitted answer to the question. If the owner is out of the primary residence for more than six months without notifying the servicer, the mortgage can go in default.

Sep 16th 2019
0
0
Subscribe to our news feed.