Buy home from grandparents

[Knowe Dials]

My grandparents took out a reverse mortgage on their home a few years ago. I spoke with them recently and they said they'd be glad to give me the house but neither of us know the process of what to do. I told them to contact their lender "Freedom Financial" and let me know what they said. Does anybody know the process that it would take for me to get payback the reverse mortgage? I assume I would have to take a loan from the bank and pay Freedom Financial whatever is owed and essentially it will be a regular mortgage loan. If that is the case, who would keep the deed? My grandparents have the deed now. Thank you in advance for any help or advice you can provide.

[Lance Wakefield]

You could also just transfer deed into your name then simply make the payments for them. There is a due on sale clause in the loan docs but banks rarely exercise them.