A reverse mortgage gives eligible homeowners the ability to stay in their homes for as long as possible. When you take out a reverse mortgage, the title of the property remains in your name and you remain the owner no matter what, so you are free to sell the house. But if you decide to sell your home, you will be required to pay back the mortgage and that amount will be taken from your total equity.
Selling a home with a reverse mortgage attached is no different than selling a home with a traditional mortgage, since the lender is paid the balance of what is owed at the time of the sale, and any equity left is then paid to the homeowner.
home with reverse mortgage
If you have a home with a reverse mortgage, Fast Home Buyers can give you the funds you need. Our professionals have experience in short sales and buying homes with reverse mortgages, as is, with no repairs and no closing costs for you.
The best way to get out of a reverse mortgage is to repay the loan balance in full which will let you end the matter quickly and move on with your life. Fast Home Buyers want you to avoid the headaches and costs of dealing with realtors, homebuyers, and the tons of documents that need to be processed. We can buy your home with hard-to-repair damages, and other less-than-ideal conditions.