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I am paying off my reverse mortgage. The balance is 91,000.will I have extra fees charged to me. I got this loan in a panic when m

by Suesanzone584 from Olivehurst, California. May 13th 2017 Reply


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

The servicer for the reverse mortgage loan usually just collects the current payoff balance when you are paying off the reverse mortgage balance. Every day the loan stays open, the principal balance will continue to increase. There could be a wire fee for the money fund transfer, but should be a lot of extra fees from the servicer.

May 15th 2017
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