Does every HECM (reverse mortgage) end up in foreclosure?

[Jaron Walling]

I went down the rabbit hole on HECM (home equity conversion mortgages). In my opinion the reverse mortgage industry is insane and borderline predatory. I'm trying to understand the timeline for these types of properties. Unfortunately my neighbor passed away last year, had a reverse mortgage, and left the property to her heirs. It's come to my knowledge the lien was $183k... but the property is distressed, vacant, attracting squatters, and has a market value of $90-110K in it's current condition. It could be a great buy off market but I don't know if it's possible. 

Does anyone have experience perusing this type of deal? I've called the previous lender and emailed HUD but haven't got any information. People are saying these properties can sit for years so with no equity I'm assuming the heirs signed it over to the bank.