Reverse Mortgage Blog

Reverse Loan Foreclosures

July 31, 2020

When a homeowner has a traditional mortgage on their home, they are required to make regular payments on it each month. But if they should fall behind, they are at risk of having a foreclosure notice sent to them to make up the missing payments. But how would a foreclosure effect a reverse loan, because there are no monthly payments to be made. Click here for some information . https://www.reverseloanconsultant.com/

Lorraine Jones

This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA). It is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.

*There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.

Lorraine Jones

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Reverse Loan Foreclosures

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