Reverse Mortgages

Questions and Answers

1. How does a reverse mortgage affect the equity 5 to 10 years down the road?

   - My mother is 84 yrs old. Fifteen years ago she changed her deed into my name and my six sisters names and added a life estate. The home is in much need of repair and updating. My mother, myself and 3 of my sisters want to take out a reverse mortgage. however, three of them want nothing to do with it...
   1 Expert Answer, 1 Community Answer

2. Can my mother do a reverse mortgage on our home?

   - I am 51 and co-own my mother's home. Can she take out a reverse mortgage?
   1 Expert Answer, 2 Community Answers

3. Are reverse mortgages available if there is a tax lien?

   - Can you get a reverse mortgage if there is a tax lien on the property?
   1 Expert Answer

4. My mother has severe dementia, she has good days and bad...

   - My mother has severe dementia, she has good days and bad days, and can remember some things. The problem is she no longer can take care of her personal business including balancing a checkbook or calling the bank.
   1 Expert Answer

5. My brother is abusing his POA - can we take it away?

   - My mom has died and the brother that have power of attorney has not been taking care of business. My mom passed away in February of 2008. He was using my dad's pension money that was being paid to my mom instead of reporting her death, and going into her credit union and emptying her account...
   1 Expert Answer

6. How can my sister stay in the house Mom had a reverse mortgage on after Mom dies?

   - My mother at age 83 took a reverse mortgage last year and died last month. My sister who is 55 years old is the remainderman of her estate and has been living in the house with her for many years. She still lives in the house. Will she be forced to sell the house or can she continue living there?
   1 Expert Answer, 3 Community Answers

7. What are the risks with reverse mortgages?

   - Learn the common risks associated with a reverse mortgage, and how a reverse mortgage works.
   1 Expert Answer

8. How do we decide between a reverse mortgage for my father or a personal loan from me?

   - My father is considering a reverse mortgage to help with monthly expenses, but, as his daughter, I'm concerned about losing equity in our family home. I'm considering offering him a personal loan of about $50,000 so that he won't take this step. What should we consider before conducting this type of transaction within the family...
   1 Expert Answer

9. My mom is 65 and did a reverse morgage. Are her kids responsible in any way?

   1 Expert Answer

10. Who are the best long term care providers and reverse mortgage companies?

    - Who provides the best long term care and the best reverse mortgage? Finding the best long term care and reverse mortgage for you takes some research.
    1 Expert Answer