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Reverse
Mortgage - Reverse
Mortgage FAQs - Remaining Equity
What happens to any remaining equity when someone dies, moves, or sells a
home? Will there be anything left to his or her heirs?
Once all parties on the deed dies, sells a home, or
no longer lives in a property as their primary residence,
the borrower or their heirs must repay the balance due
on the Reverse Mortgage or sell the home. If they sell
the property, any equity remaining will go to the borrower
or their heirs.
AAXA recommends speaking with your financial advisor to understand how to best
incorporate a reverse mortgage into your estate planning. Give AAXA Mortgage
a call today for more information on our reverse mortgage programs - 877-728-3569.
Other Popular Reverse Mortgage Questions:
What are
some basic qualification parameters?
How much cash
can I get and how do I get paid?
What happens to
my debt and what is the maximum I can owe?
Will
there be anything left for the borrower or their heirs once the property is
sold or the borrower no longer uses the home as their primary residence?
What are some of
the costs associated with reverse mortgages?
Will
receiving payments affect one's Social Security, Medicaid,
or Medicare benefits?
Who
owns the property, the lender or the borrower?
Is it possible
to refinance a reverse mortgage if a better opportunity becomes available?
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