Can you help with reverse mortgage foreclosure?

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  • #49161
    cbflores@818
    Member

    Hello, I’m completely new to all of this so any help is greatly appreciated. So my Mom went through NACA before some years back and saved the house and got mortgage modification. She was persuaded to take a reverse mortgage out on the same home, she past away in February 2018, now our home is in foreclosure. Can you help us?

    • This topic was modified 2 years, 3 months ago by cbflores@818.
    #49172
    cbflores@818
    Member

    Thank you. I will try that. You’re very kind. Have an awesome day.

    #49179
    TTrumble
    Member

    Hello cbflores@818,

    First, my sincere sympathies on the loss of your mother. I in fact lost my own mother just this past January and know very well what you are going through.

    Unfortunately, NACA is not going to be able to help in your case. We are not able to deal with reverse mortgages in any fashion.

    I’m sorry to see that she fell for the reverse mortgage trap. They are very much predatory loans, designed to create just exactly the situation you are in at present. Assuming you are executor(s) of her estate, you might want to try to refinance in order to pay off the reverse mortgage and transfer things into your own names.

    I am truly sorry we can’t be of more help.

    Tim Trumble
    Online Operations, NACA

    • This reply was modified 12 months ago by TTrumble.
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