Your Options

The mortgagee has passed or no longer lives at the property: The loan needs to be paid off. The property can be sold to pay off the debt. If the property has equity, the heirs of the estate will receive the funds. If there is no equity, the property can be sold as a short sale to settle the debt. If the heirs want to keep the property, they can get a loan to cash out the reverse mortgage and essentially buy the property from the estate. Contact us. We can help you coordinate the settling of the estate. Our agents, lender partner and probate attorneys will be paid at closing from the proceeds of the estate and don’t require an upfront retainer.

Property Taxes: If you are in foreclosure on a reverse mortgage due to your property taxes being delinquent, you can apply for a senior exemption. Every County has an exemption program. If you meet the requirements for age, income, etc, your property taxes will be reduced. You have to renew the exemption every year. If you are already behind on your taxes, they may back date your exemption and set up a payment plan so you can afford to keep your property. To find this information, reach out to your county assessor’s office. Most counties list detailed requirements and application instructions on their official websites.

The property is not being maintained: Contact the lender and find out what specifically what you need to do to bring the property condition back to their standard. If you don’t have the funds to make the repairs, your county may have low income programs or grants you may be able to use to bring the property up to standard and avoid foreclosure.

How We Can Help

Call or Fill out our contact form on the Contact Us page with the following information:

• Property address

• Details about your situation

• Auction date (if applicable)

• Your goals regarding the property

• The best time to reach you

We will review all your options, explain any fees involved if you decide to sell or buy the property from the estate, and provide a free market analysis. Commissions and closing costs are paid at closing. If the family wishes to buy the property, we offer this service at a reduced commission and handle everything from contracts through closing.

If probate is necessary, we work with probate attorneys who are paid at closing.

If you prefer a quick sale, we also work with investors nationwide who will make offers to buy the property as-is.