Reverse Mortgage Heirs Responsibility
Contents Reverse mortgage insured Conversion mortgage (hecm Full loan balance tighter rules Reverse mortgage math. author Reverse mortgage math The amount that’s due to the lender is the lesser of the reverse mortgage loan balance or 95% of the appraised market value of the home. Say the appraiser determines the home is worth $200,000 and the loan balance is $100,000. To keep the house, the heirs need to pay the loan balance of $100,000. Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want…
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