About the Author: The above Real Estate information on the how to sell a home with a reverse mortgage was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at [email protected] or by phone at 508-625-0191. Bill has helped people move in and out of many Metrowest towns for the last 29+ Years.
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Selling your property while in mortgage is a fairly common thing. Being in mortgage simply means you still owe money to your lender and have not yet satisfied your home loan. Typical mortgages run 15 to 30 years, and homeowners regularly sell their homes to move before loans are paid.
When you’re selling your home, there’s so much to do and things can easily fall through the cracks. So let’s narrow down that to-do list! Before you put your home on the market, make sure you’ve.
The best time of year to sell a home is when you’re ready to sell it. That’s the short answer. But of course it’s more complicated than that. Just like the calendar, the real estate market has seasons. There are times of the year when it’s easiest to show your home at its best to potential buyers.
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Since the text on this website states in one paragraph that the loan is non-recourse and the balance is not due to the lender by the heirs of the estate for a shortfall on the reverse mortgage (appraised value of the home vs the loan amount), if the house is sold to a third party.