I have a reverse mortgage. Can I short sale?


Yes, you are allowed to short sale your home if you are currently enrolled in a reverse mortgage. In fact, less paperwork is needed to perform the short sale but all of the same benefits apply. You are allowed to live in the property during the short sale process and the process takes an average of three to six months. One difference between a reverse mortgage short sale and a conventional mortgage short sale is that the lender normally does not require an arm's length transaction. This means that someone from within the family may be permitted to purchase the home. The heirs to the home are not responsible for any outstanding balance or negative equity. Call us today at 1-800-760-9156 to see how you can benefit.