Selling a House With a Reverse Mortgage
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Selling a House With a Reverse Mortgage
A reverse mortgage is a loan against the house. Selling means the servicer gets paid from the closing, and any leftover equity goes to the seller or the estate.
This page is the payoff question. If the owner moved to care, see nursing home / as-is. If the owner died, see probate. Mom’s house options: selling mom's house.
What title will ask for
- The reverse-mortgage servicer name
- A payoff quote (they expire, title orders a fresh one)
- Who has authority to sign: the borrower, a surviving spouse, a power of attorney, or a personal representative
If the balance is higher than a cash offer, that is a short-sale or estate question, not something we can promise to fix on a webpage. We can still walk the house and tell you the number.
We buy as-is. You do not have to repair or empty the house first.
What this is not
We are not a HUD reverse-mortgage counselor and we are not an estate attorney. The servicer and a lawyer handle the loan and the court file. We buy the house when title can close.
Related
Common questions
Does a reverse mortgage stop a cash sale?
No. It is a payoff line on the settlement statement, like any other loan.
What if the payoff is more than the offer?
Then there is no leftover equity. Talk to the servicer and a counselor. We will still tell you our number.
Call?
Ready to sell your St. Louis house as-is?
Cash offer, no repairs, we typically cover closing costs. Typically about 2 weeks. Call 636-525-1566. We answer 24/7.