Can a reverse mortgage go into foreclosure? Absolutely! Like any other home loan, you must meet your program obligations or the bank could foreclose on the home. What’s unique about a reverse mortgage is that foreclosure is also a normal part of the program that applies even if the borrower does everything they’re supposed to. Intrigued? … Read More >>
When you hear (or read) the word “foreclosure”, what kind of images does that conjure up in your mind? Probably some pretty negative stuff, right? You’re probably thinking something along the lines of families experiencing hard times, falling behind on mortgage payments, and being forced out of their home as it’s being sold on the … Read More >>
Can a reverse mortgage be foreclosed on? Definitely! Like any other home loan, the bank will pursue foreclosure if the borrower fails to meet their obligations under the loan. Interestingly, foreclosure is also a normal part of the program that applies even if the borrower meets their obligations perfectly. Sound strange? Read on and I’ll … Read More >>
