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  1. Liens and Encumbrances: Re: How is a Reverse Mortgage Payoff Attributed to Estates of Deceased

    Thank You
  2. Liens and Encumbrances: Re: How is a Reverse Mortgage Payoff Attributed to Estates of Deceased

    Let’s step back for a moment and look at this at a higher level. The relationship between mortgage co., borrower(s) and property is a good place to start. Mortgage co. loans money to borrower(s)...
  3. Liens and Encumbrances: Re: How is a Reverse Mortgage Payoff Attributed to Estates of Deceased

    What is the difference between a line of credit and monthly income besides the frequency and amount. If this scenario were set up with monthly payments would each monthly payment be considered a...
  4. Liens and Encumbrances: Re: How is a Reverse Mortgage Payoff Attributed to Estates of Deceased

    I agree and am aware that the surviving wife would not be allowed to borrow against the deceased husbands 1/2 interest in the property without the consent of his heirs. That would have involved loan...
  5. Liens and Encumbrances: Re: How is a Reverse Mortgage Payoff Attributed to Estates of Deceased

    Ok I didn't do a very good job of explaining. I am not a legal professional and my terminology may be somewhat lacking and for that I apologize.

    Husband and wife owned the home as community...
  6. Liens and Encumbrances: Re: How is a Reverse Mortgage Payoff Attributed to Estates of Deceased

    They were both co-borrowers
  7. Liens and Encumbrances: Re: How is a Reverse Mortgage Payoff Attributed to Estates of Deceased

    I guess it is a marital estate. When the husband died not only did he leave her a life estate by will, the state of Texas grants life estate. The reverse mortgage was taken out prior to there being...
  8. Liens and Encumbrances: How is a Reverse Mortgage Payoff Attributed to Estates of Deceased

    My question involves real estate located in the State of: Texas

    Reverse mortgage obtained by a married couple with blended family. RM is established as line of credit with initial principal...
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