Not every reverse mortgage has a happy ending. Even though most every reverse mortgage has a success story, not every homeowner is on board.
Margaret J. was in foreclosure. She hadn’t made a mortgage payment in over a year and the day I met her at her home, she had told me that today was the day her home was going to auction. I had told her that we could save her home with a reverse mortgage if she wanted, but in the end she chose not to cooperate with the process and she lost her home, forever.
Our reverse mortgage plan will not decline your loan application if you are delinquent on your home payments, or even if you are currently in foreclosure. It is something I encounter on many occasion and, as long as the homeowner is cooperative with us, we are usually successful getting them out of foreclosure and allowing them to keep their home, with no mortgage payment to worry about, ever again.Questions? Contact us now!