Home / Blog / Archive by Category "Heirs & Loan Maturity"

'Heirs & Loan Maturity' Category Archives

When Does a Reverse Mortgage Need to be Paid Back?

   no comments
Carole has sent the following question in ask ARLO! blog. Hello. My step-mother is in her 80's, has dementia, and is the sole Trustee of a Family Trust set up by my father years ago. My brother and I are the beneficiaries. A few years back her neighbors advised and assisted her in placing the house (which had been assigned...
Read Full Article

Reverse Mortgage Foreclosure Has No Effect on Heirs

   4 comments
My MIL and FIL recently entered a reverse mortgage. House in good shape and worth about $150,000. I expect they will take a large distribution up front as well as withdrawal monthly amounts until they hit the max dictated by the lender. The large distribution up front coupled with fees, closing costs, mortgage insurance and interest build up means that...
Read Full Article

Reverse Mortgage Options with Disabled Child

   4 comments
My parents have reverse mortgage. My dad died 5 years ago, my mom is in a nursing home, and I am a 53-year-old disabled woman living in the home. What do I do about living in my home? I have no place to go! - Sylvia Hello Sylvia, I am very sorry to hear of your circumstances. ...
Read Full Article

If I surrender my home to you do I owe any money?

   no comments
A browser Laura P. has sent the following question(s) in the ask experts blog. If I surrender my home to you do I owe any money? Hello Laura, I want to be sure I answer this correctly and your question leaves the door open a little so please give me a little room to explain myself here.  The reverse mortgage...
Read Full Article