US Mortgage Information

legaleagle asked:


My mother-in-laws two sons living in her home are heroin users, she has applied for a reverse mortgage, if her house is confiscated by the federal government, who pays off this loan to the finance company?

Frances

Beijing China Girl asked:


What happens to a reverse mortgage after the person have to go to nursing home. How does that work?

Samuel

Sandi S asked:


My father recently passed away. He was recently approved for a reverse mortage for $250,000, but of course he didn’t get all of that at one time. They were sending him small amounts each time he would turn in his receipts of the home repairs he had completed. What i would like to know is, would the family have to see that the repairs were still done in order to get the money, or would we have to see the house to pay the bank back the money that he did receive already?

Adam

Dena D asked:


My grandmother passed away 4 months ago. She has a reverse mortgage. Family is renting the house out. It is unknown if they disclosed to the bank that she has passed away. Is this against the law?

Richard