reverse mortgage short sale

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 · Reverse Mortgage Question: Can you transfer a deed when the home is in foreclosure? By John Yedinak | August 24, 2008 june 11. and wants a reverse mortgage to pay off the current mortgage. I am being told, that the deed can not be transferred while the home is in foreclosure.. If a borrower (or estate) elects to follow the short sale.

“FHA is aware of concerns that the laws in certain states may conflict with its arm’s length transaction requirements for preforeclosure/short sales,” a memo states. its non-recourse policy on.

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can anyone tell me about reverse mortgage short sales? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

BBB A+ rated. 16 years experience. We are the oldest privately held information services company in the nation. Trust us with your marketing campaign and we will guide you every step of the way. Get qualified reverse mortgage leads, short sale leads, FHA leads, HARP leads, VA leads at PioneerInfo. Our database is a combination of public deed transactions gathered from public and private sources

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Short Selling Mortgages. The bottom line is that a mortgage is a mortgage whether it’s a forward version or a reverse version. However, mortgage lenders aren’t big fans of home short sales because.

So once a homeowner moves out to assisted living or passes away the heirs or POA have to sell within 6 months.. and that does include doing a short sale.It would be handled just like any other short sale transaction by just explaining the hardship and circumstances as to why the home is now vacated.

Reverse Mortgage Short Sales. Started by Mori Langshaw Sr. Last reply by Bill Garrett May 24, 2011. 4 Replies 2 Likes. Has anyone done a short sale where there was a reverse mortgage. I understand that the loan docs are written completely different for these. Advice?

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Laura, most reverse mortgages are guaranteed by HUD and I am not aware of any deed restrictions for HUD. We have closed many reverse mortgage Short Sales and none of them had restrictions. If for some reason the servicer has issued a deed restriction, it should be in the approval letter.

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