reverse mortgages

Posted in Creative Real Estate Discussions
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  • David Lunsford
    June 5, 2010 at 10:51 am
    David Lunsford

    In the last week I have had three heirs contact me about buying their inherited property. The catch is all three have a reverse mortgage amounting to 85 to 90 per cent of value. As opposed to just kicking these to the curb is there any profit potential here?

    jimi hendricks
    June 7, 2010 at 12:09 pm
    jimi hendricks

    !0% equity is too thin. Maybe conduct a highest bidder sale and split proceeds over debt payoff with heirs?

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